[tcgv]

Something I was thinking about is that this year alone Tether received almost 50 billions of new US dollars for printing the same amount of their coin, reaching the staggering Market cap of 68B.

Even if they started as a scam and were a few billions out of parity, 2021 gave them a lot of additional runway, allowing them to recompose their reative parity to the USD.

For instance, they could be 80% backed at the start of the year, and after 2021 cash inflows so far they could have gone up to 93% backed by simply doing nothing.

[wjohnsto]

They could although it's more likely, given their own pie charts, they didn't receive any US dollars for printing their coin over the past 1-2 years and instead loaned (i.e. commercial paper) USDT out. These loans are also significant in that they put Tether in the top 10 commercial paper holders in the world, but not significant enough for others in the top 10 to know about them or do any business with them.

[onlyrealcuzzo]

This is awfully optimistic thinking.

They could also be <50% backed at the start of the year and <50% backed now...

No one really knows.