• untoreh-light
  • I am Francesco Giannelli. The website «unto.re» is the place where I put stuff I should remember...or forget. Located in south italy. Born in the early nineties.
    italy

USD Tether

My view on USD tether in reply to a post..

This is somewhat a reply to a few points in this article on Tether (USDT).

I don't have a clue what I am saying, but it really strikes me as odd how much liberty tether has with how much new capital it can issue, and all apparently regulated exchanges be fine accepting it, if there are fundamental holes in tether supply. The crypto space is quite diversified, even if tether collapses (is it too big to fail?) there are nations with BTC reserves. And the willingnes to get away from the USD as global monetary standard is real, China was fine with BTC threathening the USD, not so fine when it started threathening the CNY. I think there are different powers at play in the crypto space, between governments, industries, banks, exchanges, influences and retail. Pin pointing tether as the root of all evil leaves a bad aftertaste.