what's the latest on the loan from tether to bitfinex? the last announcement i can find is february 2020 where they repaid $100m. is there really nothing new since then?
i wouldn't say nothing backed. not fully backed, sure.
banking in shady jurisdictions behind shell companies ("like criminals" as giancarlo once said) is how they keep withdrawals flowing. it's a dirty job but someone's gotta do it.
i wouldn't pay the lawsuits too much mind. lots of frivolous BS there, just like the lawsuits against other exchanges.
that's reasonable. unfortunately for me, USDT is the only liquid stablecoin on some of the exchanges i use. USDC just isn't big enough yet.
- 20B circulation with nothing backed
- No proof of funds either
- Banking partner on the Bahamas
- Lawsuits are pending
i wouldn't say nothing backed. not fully backed, sure.
banking in shady jurisdictions behind shell companies ("like criminals" as giancarlo once said) is how they keep withdrawals flowing. it's a dirty job but someone's gotta do it.
i wouldn't pay the lawsuits too much mind. lots of frivolous BS there, just like the lawsuits against other exchanges.
I am worried about my funds in USDT. I think I have to move to USDC or BUSD.
that's reasonable. unfortunately for me, USDT is the only liquid stablecoin on some of the exchanges i use. USDC just isn't big enough yet.
i agree with that. usdt has some assets but i believe also, that theyre not fully backed. they already admitted it once, last year, about not being fully backed. so up until today, i have hesitations if they are now true to themselves about such having 20B of assets. it seems too much, i guess.
yeah, lawsuits? it is basically everywhere. and most of them are just being ignored. cant move forward because no one is seriously pursuing it. because no one can truly waste their resources with no assurance of what they will get as results.