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Posted by12 days ago

This sub has been quiet lately about Tether and its alleged lack of backings.

Now the topic is on the menu again: Judge Orders Tether to Produce Records Showing Backing of USDT

By the way, these are the backings Tether claims to have:

  • cash

  • cash equivalents (money market funds, U.S. Treasury bills)

  • commercial paper

  • corporate bonds

  • loans

  • other investments including digital currencies (!)

This is Tether's marketcap for the last 12 months and as you can see it's not dying slowly as many of you have wished for, it's actually growing:

https://i.redd.it/h478n2srn7p91.png

When we zoom out, we can see that the drop wasn't even as big:

https://i.redd.it/9coz14t0o7p91.png

So we still have this ticking time bomb Tether and I'm excited to see what they will tell the judge or how they will avoid to prove their backings again.

Are you guys relaxed like "nothing happend until now so it will be fine" or are you concerned? Most of all, will they finally prove the backings of Tether?

/edit: u/pbjclimbing pointed out: "USDT is generally preferred by Russians and Chinese and Iranians" and this totally makes sense now.

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