Has Tether Turned the Corner on Reserve Doubters?

https://www.pymnts.com/cryptocurrency/2022/has-tether-turned-the-corner-on-reserve-doubters/

by ekpyrotic • 4 years ago

1 5 4 years ago

pymnts.com

eschneider• 4 years ago

No.

jqpabc1232• 4 years ago

More of the same --- piled higher and deeper.

You still can't redeem USDT for USD unless you are a "professional investor" with at least 100,000 USDT. Sorry little guys, you are just screwed.

This alone should be a huge red flag --- but then again, the entire unregulated crypto marketplace is just one huge red flag.

SilasX• 4 years ago

I agree that there are good reasons to be skeptical of Tether, but this isn't one of them, as you could say the same about most ETFs: you can only redeem ETF shares for the basket of securities in large quantities. Quite reasonably, no one believes this "screws the little guy" or puts the ETF shares at risk of a depeg.

jqpabc1232• 4 years ago

you can only redeem ETF shares for the basket of securities in large quantities

Not the same.

You put your fiat into an ETF, you can take your fiat out --- at any time. No artificial, BS excuse that the amount isn't big enough.

This is possible because ETFs are actually regulated by the SEC and backed as advertised 1:1 by the underlying liquid securities --- not phoney IOU paper.

Has Tether Turned the Corner on Reserve Doubters?

Related Stories