[nootropicat]

Tether fud in 2022 is truly embarassing and slanderous. The only time they had real problems was when part of their money was stolen and confiscated with connection to Crypto Capital - which only happened because they were refused normal banking. The only way tether fails is if the situation repeats in some way - but it appears American government finally gave up on trying to destroy usdt.

As long as the US government itself doesn't try to destroy them again - in few years tether is going into hundreds of billions.

[jcranmer]

If Tether is telling the truth in their attestation, they held $5 billion in cryptocurrency a month and a half ago, and had only about $160 million in extra assets to cover their liabilities. Given the extent of the collapse of the cryptocurrency market (and markets in general, do note), by Tether's own words, Tether is either insolvent or required someone decently steep infusions of cash. As far as I'm aware Tether has not announced either, so either Tether is lying about its own solvency or... Tether is covering up its own insolvency.

Actually, come to think of it, Tether does claim to publish asset and liability totals (if not breakdowns) in near real time, so let's see how it's doing. And, surprise, Tether somehow still has just $160 million in extra assets over liabilities. In fact, between the attestation date of March 31, 2022 and the latest update as of last night, this buffer has changed by just $186. That kind of performance is... well, not credible.

[ceejayoz]

> which only happened because they were refused normal banking

They gave nearly a billion dollars to someone without a contract. That's a higher level of stupidity than just "we used a shady banking partner because we had no alternative".