Re: 2024 Update: How long can Tether keep getting away with their huge scam?

Quote from: Hello_Bubble_World on May 11, 2024, 06:48:43 PM

Making their debut on Forbes' annual billionaires ranking are Giancarlo Devasini, Paolo Ardoino, Jean-Louis van der Velde and Stuart Hoegner, four large shareholders of Tether, a controversial but wildly profitable stablecoin issuer.

https://www.forbes.com/sites/johnhyatt/2024/04/02/the-richest-crypto-and-bitcoin-billionaires-in-the-world-2024/?sh=77d7c306726b

2024 Update: How long can Tether keep getting away with their huge scam?
ps. If you do not know, Tether has avoided real auditing and is probably another highly-successful case of blatant crpto fraud. When will it finally crash, and/or do you have much direct exposure to USDT?

What is this "real" audit you are speaking of? Their last audit is from independent auditor from march this year by BDO

Liquid fiat cash reserves needed for financial institutions isn't 1:1 in anywhere at the world at least last i've checked. I don't think it's even 50% in anywhere, so if this a huge scam, it's a part of world wide financial regulatory scam, and nothing to do with tether per se. It's way more profitable for banks to invest that money to anything else but fiat.

Banks in general have 10% reserves. ECB 1%. So how TETHER is a scam?