[seviu]

You would be surprised about tether though

They are now really backed. It might be they weren’t. Now they definitely are.

https://tether.to/en/transparency/?tab=usdt

All these years all this Fud and so far nobody demonstrated what you clam.

They are also the faster to block their stablecoin whenever there is a hack.

[SXX]

Madoff Ponzi scheme also ran for at least 20 years. And yeah around 1% of total USDT supply is blocked so yeah Tether can very well live on those blocked funds:

https://dune.com/phabc/usdt---banned-addresses

[seviu]

I don’t discuss the past. In 2017 it was tether the one that caused the bubble that put BTC at almost 20k, by issuing tokens backed by nothing

Now they generate more than 10B per year in profits. And they have been using that to collateralize their usdt

It’s clear they are now fully backed. Another question is whether they want to comply with regulations (they don’t comply with MiCA, I doubt USDC does either) but that’s another question

Hate it or love it, they aren’t going anywhere anymore

[ForHackernews]

Have they ever passed a real audit? Not an attestation, not a pinky-swear from a no-name Caribbean bank?

[SXX]

Hey they didnt scam everyone just yet! This is proof it's very safe. </sarcasm>

[seviu]

That link contains audits, and proof of reserves. What are you talking about.

They got bad rep with zero proof

[topranks]

This is the company who have never produced a real audit despite years of saying they would?

If they are fully backed they’d get an audit. The fact they don’t should tell you all you need to know.