Quote from: FirmWars on February 12, 2022, 06:40:50 PM

Please correct me if I got it all wrong, audited projects are projects that have passed some security checkup right? As a newbie I kinda like investing in projects that are audited atleast so back to my question, USDT is the biggest stable coin right? When I tracked it on coinmarketcap I found out that's it passed audits through Certik and Fairyproof, why haven't this clear the rumour that USDT might fail someday? Because it's Centralised? If that's it then why DAI ( decentralized stable coin) haven't grow over USDT all this while?

There are rumours surrounding USDT since a few years now and they are just not going away. The reason for that is, that the company behind USDT changed the wording regarding their backing of every USDT minted. In the beginning they always said, that they have enough real USD to back every USDT minted, but now they are saying that they have enough reserves to back every USDT minted. The problem is, that no one knows if those reserves really exist and in what form they exist.
I think certik and fairyproof only audit the code and not stuff like reserves.