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0 sats \ 1 reply \ @purpurato OP 5 Jun 2022 \ parent \ on: Tether FUD? bitcoin
They paid a fine already https://www.cnbc.com/2021/02/23/tether-bitfinex-reach-settlement-with-new-york-attorney-general.html to end the probe. And there has never been an audit on the assets backing the peg. No one has gone to jail, but make up your mind with the info available. Here's another one https://cryptocurrencynewsroom.com/what-we-know-about-the-bitfinex-tether-scandal/ The peg will be lost eventually. I think the move you say in Japan/UK goes towards allowing banks work on those stablecoins and excluding other actors.
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0 sats \ 0 replies \ @KingZing 5 Jun 2022
The FUD against the peg is largely exaggerated imo.
Tether does have transparency report and the treasury attested by third party auditor, though there are concern since the specifics of what investments they do are not given.
In fact the latest attest report shows they are even OVER collateralised and have great liquidity. https://blockmagnates.com/tether-usdt-is-overcollateralized-with-over-82-billion-in-reserves/
That being said, the marketcap for USDC is catching up and should diversify this risk a little over time.
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