And the most ridiculous part of the last few days ? If you own the allegedly manipulated scamcoin tether then you've outperformed everything else. Rational markets eh.....
In theory tether is pegged very close to the dollar. It has been flat the last year while most coins are still up 300-1000%
Quite, but isn't the whole point of this latest round of FUD that Tether is an unbacked scam and therefore not really worth $1 or tethered at all. If the price is stable close to $1 then maybe it's not a scam and all this is just made up shite and not even FUD
All the fuckheads have to do is release a letter from the bank confirming the balance. No audit required - we can all count the number of Tether outstanding. Its a 5 minute job.
Even if they did have the USD backing, I cannot imagine them not using it rather than keeping it sitting in a bank. Human nature being what it is, it's not plausible. I have never touched Tether, always seen it as too good to be true.