Post
Topic
Board Press
Re: [05-03-2019] Coinbase CEO Suggests Using USDC Stablecoin Instead Of Tether
by
o_e_l_e_o
on 04/05/2019, 08:54:34 UTC
I reckon that it has become very clear that the issue is not about Tether printing USDT out of nothing. That was fud.
I'm not so sure. Tether quietly changed their terms and conditions a few weeks ago from "every USDT is backed up 1-to-1 with USD" to "USDT is backed up with a variety of other assets which may include other cryptocurrencies" (obviously I'm paraphrasing here). If you are backing up Tether with other cryptocurrencies, then what is stopping them printing some USDT out of nothing, using it to buy bitcoin, and then claiming the USDT is fully backed up with said bitcoin as per their terms and conditions.

Given the seemingly endless list of shady activities that Bitfinex and Tether seem happy to engage in, how can you be sure they haven't done what I've just described?