Quote from: chattingtut on July 29, 2020, 07:26:30 PM

usdt tether market cap grows from 4,6 billions to 10,800 billions from March 2020

For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt

Do you think tether really has fiat for backing this usdt? Wink

USDT is being traded a lot, I checked the volume and it’s more than BTC and ETH, so it has really been increasing. We were discussing this last week about how USDT has been increasing it’s market cap, and some people believed that it might soon overtake Ethereum with the way things are going. And whether tether is really backed completely by the USD is what I can’t tell, but from what I have read on Forbes it’s not 100% backed by USD.

Quote from: casperBGD on October 13, 2020, 12:49:41 PM

i find it risky to put much money in USDT, since there is no proof that USDT is covered with collateral, especially since there is a lot of new tokens minted, and we cannot see that there are new collateral to support this minting

I think they already dropped a clue on their website that shows that USDT is not fully a USD backed cryptocurrency (stablecoin). But there are other stablecoins that are really backed by the USD, just like PAX? But USDT seems to be more popular than the other ones because it came before them, so it’s leading the way.