[new2this]

The central allegation is that Tether would print coins for themselves that were not backed by USD and then buy BTC. Thus, artificially propping up BTC in a price range where they could then quickly sell, pocket profits, and stor the money to back the Tether they just printed.

[jqpabc123]

In other words, gaming the system is pretty easy when you're printing/minting the money needed to do it. This is what puts crypto in a league of it's own.

[yucky]

Isn't this what the Fed does?

Not that they're in the same league, but it feels like the same sport.

[ploum]

But then some people are selling BTC against tether. And, at some point, want to exchange tether with USD.

So I understand that Tether is shit if it’s true but it has nothing to do with bitcoin.