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by gruez 1853 days ago
But there doesn't seem to be much evidence that tether is printing USDT, only a history of them losing people's deposits due to random banking related issues.
2 comments
onlyrealcuzzo 1853 days ago
The evidence is that - by their own numbers - they would've needed to buy 1% of all commercial paper in existence in a one month period.

It just didn't happen.

I will add that the problem is roughly 2x worse. Tether is only ~60% of the stablecoin market: https://coinmarketcap.com/view/stablecoin/

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davidgerard 1853 days ago
Tether are printing USDT, then accounting for the printed USDT on the books as "loans".

This is what banks do, but Tether is not a bank.

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