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by dustintrex 1599 days ago
> When someone exchanges a real dollar for a USDC token

You're making the very large assumption here that people are exchanging real dollars for stablecoins, which is almost certainly not the case. Tether, in particular, seems to printing their stablecoins out of what appears to be thin air, or at best in exchange for sketchy IOUs.
2 comments
sumedh 1599 days ago
> Tether, in particular, seems to printing their stablecoins out of what appears to be thin air,

Everyone keeps saying they are printing but no one has the proof. Even the New York AG investigated Tether and just gave them a slap on the wrist

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dustintrex 1599 days ago
Do you really believe that a 10-person company run by a convicted fraudster (Devasini) is managing $78 billion dollars in assets, making them bigger than Vanguard or Schwab, despite the financial world not being able to find any evidence of what they're actually holding?

https://www.bloomberg.com/opinion/articles/2021-10-07/matt-l...

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sumedh 1598 days ago
It does not matter what I belive, the NY AG looked at that gave a slap on the wrist and I dont think any other US govt agency is looking at them so what does that tell you?
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everfree 1599 days ago
USDC is a coin issued by the US-based company Circle Ltd. It's not related to Tether.
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