...because they have already been flipped: https://finance.yahoo.com/news/tether-reveals-partnerships-secret-fbi-053041589.html Tether Reveals Partnerships With Secret Service, FBI in Letter to U.S. Senate "Tether, the company behind the leading USDT stablecoin, has made public the letters it sent to the U.S. Senate Committee on Banking, Housing, and Urban Affairs, as well as the U.S. House Financial Services Committee, highlighting its dedication to security and its close partnerships with law enforcement agencies. In the recent letter, Tether's CEO Paolo Ardoino, who recently assumed leadership of the company, emphasized Tether's decision to disable its tokens in all wallets associated with the Office of Foreign Assets and Controls (OFAC) sanction list. Ardoino claimed that Tether has assisted the Department of Justice, U.S. Secret Service, and Federal Bureau of Investigation (FBI) in freezing 326 wallets controlling 435 million USDT thus far. " -------------------------- That is what I call decentralization!!!!
Tether Usdt and Circle Usdc and Pax Usdp and Gemini Gusd stablecoins are centralized. They have always been centralized and can freeze any accounts Crypto is not good for criminals or terrorists
This is great news for crypto. Tether... Too big to fail and fully backed and supported by the U.S. Government.
I take it as Tether rolled to keep the DOJ of digging too deep. Odds are they are insolvent after the disgorgement.
I don't follow crypto much but any chance the U.S. government takes over Tether & makes it the CBDC to control our money rather than create their own DC? They know many will convert to crypto if U.S. dollars are required to be converted to CBDC. Seems they (Tether) can freeze any account which is what government wants. I'm probably way off but am skeptical anytime the government gets involved in anything.
Well if it's anything like Canada, and the woke US surely is... then ANYTHING here the government touches bubbles to extremes. Paid for of course, by the working tax-payer. Not the rich guys that you read about in the Panama papers though.
1-"Open to anyone in the world" .... Perfect for the "New World Order" which will be 1 government controlling the world so just 1 currency needed. 2-"No KYC on Tether" ..... Make a change requiring everyone to provide ID? Shut off all accounts that don't comply? Seems that using the current crypto system would be easier than creating a new CBDC system and they don't want us having an alternate system anyhow. If we do, they don't have full control over us which is what they want. Sorry to get into the political/hypothetical world but I feel we're close (2024?) to something happening.
There is no facility on the crypto software ecosystem for KYC and any stablecoin that shuts down random addresses with no extreme justifiable evidence, i.e. ofac, criminal hackers, terrorism would quickly crash to 0 value and that is not an exaggeration To get an idea, download the Metamask, Trust Wallet, Rabby or any wallet software on multiple devices, laptops, cell phones, tablets, and create 10, 100 or 1000 addresses across those devices. Any of those addresses can receive stable coins (or any crypto assets) There's no way to register any KYC information as it's not part of any process. This is true for bitcoin and any other crypto The KYC happens at on-ramp/off-ramp centralized exchanges, which is why the anti-crypto bill introduced by the native indian senator is trying to ban the crypto wallets or other self-custody methods (you don't need any software to store private keys, it's just math, big numbers) and everyone in the US have to store their cryptos with centralized exchanges or companies. They love the bitcoin etf
10 years ago -> we want cryptocurrencies to stand against the establishment to create a new economic system. 2024 -> Crypto leaders who act as rats for the US government are the best! We want coins supported by the US government!