[likpok]

It’s hard to find a bank to take your money, since you’re something that rhymes with money laundering. Tether had a bunch of money stolen from them because the money launderer they used turned out to be a crook.

It also takes a long time to get this going and there are moderately high costs to a minimally viable financial entity (reporting, compliance). A few years ago they only had a couple billion which makes it hard.

And all of that sets aside the allegation that tether has been printing tethers it’s entire life — that it’s basically never been fully backed by dollars.

[mewse]

> something that rhymes with money laundering

Oo, sign me up for some "bunny conjuring", please!

Alternately, "sunny wandering" and "honey squandering" both sound like they could be delightful ways to pass an afternoon. But I can tell you right now that "funny pondering" is hella overrated.