Because Tether is an obvious fraud linked to these other obviously fraudulent companies and predicated on trust in cryptocurrencies.
replyIt's really hard to be an obvious fraud when you've been publishing attestations for years and now you have a "full independent audit" from KPMG for FY 2025, just like Circle/USDC.
replyhttps://tether.io/news/tether-completes-the-largest-inaugura...
Read up on the origins of tether, the people who founded it, deltic bank, banned for fraud in New York. In the beginning the reserves were a lie. I have no doubt they have some reserves now, but do they have $182 billiom USD, really?
replyCZ from Binance was also done for… fraud but miraculously pardoned by Donald Trump (I wonder why?!) and somehow still has enormous influence and inside knowledge in spite being banned from managing Binance. He talks as if he runs the company. Hmmm.
https://ag.ny.gov/press-release/2021/attorney-general-james-...
Is that what happens here? Tether just pocket the difference?
replyI would assume Binance is powerful enough to get Tether to issue new USDT and give it to Binance to replace the stolen-and-frozen USDT.
replyNo lol
replyIf the iPhone you bought can easily poof and be gone and locked somewhere, people will stop buying and using iphone and apple will pop
replyFreezing bank accounts was and is possible. People don't seem to be still using them.
replyYes. But that doesn't happen as often as in the crypto world it seems.
replyPeople are but criminals are less likely to do so. Without the money laundering usecase crypto is in for another winter.
replyAnd you say that as if this is a... bad thing?
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