Quote from: marcus_of_augustus on Today at 06:17:57 PM

Quote from: Hueristic on Today at 05:49:39 PM

https://www.theverge.com/2021/10/15/22728253/tether-41-million-misleading-statements-fiat-currency-bitfinex-cftc

Quote

The CFTC said in a statement Friday that between June 2016 and February 2019, Tether misrepresented to customers and the cryptocurrencies markets that it had “sufficient US dollar reserves” to back every token when, in fact, its reserves were not fully backed the majority of the time.

.... this is hilarious, after more than a century of fractional reserve banking where most bank accounts held less than 10% reserves the "regulators" are suddenly all about enforcing full reserve banking for digital stablecoin accounts

... roll on Full Reserve Banking, the way of the future

... not to mention that while the corrupt CFTC has been watching gold and silver commodity markets have turned into the farce of having less than 1% physical reserves backing the massive pile of paper derivative promises issued in the markets the CFTC 'regulates'

Not only that, if the bank account name wasn't 'Tether' then they didn't include the money in the reserve, there was a new tweet in the last 10 minutes or so.....