Post
Topic
Board Altcoin Discussion
Re: Tether: USDT is the next token to crash / Tether fraud exposed
by
alex113115
on 07/12/2022, 09:58:04 UTC
Don't want to protect Tether, but your links do not expose any fraud of Tether or imply a possibility of crashing.
Of course, Tether has issues, after all, it is a wild crypto product.
Nevertheless, is has the potential to become something big, assuming the right management. First, this stablecoin has the highest transaction volume to market cap ratio - meaning it is used for daily transactions, and payments, including cross-border transfers. We have done some research on it here https://www.observers.com/zoom-in-on-stablecoins/ If people find it convenient, that is the best property for money. Money is a social construct.
They work on transparency issues as well. They have issued an audited reserve report. https://www.observers.com/tether-new-attestation-of-reserves/
It is still not a full financial statement and the auditor is not from Big4. Further, the auditors are from the hometown of Tether CFO. But it is better than nothing.