[tristanj]

I’m convinced that in its early years, Tether operated as a scam, skimming deposits and creating coins out of thin air. But once they realized they had accidentally created a money-printing machine, they attempted to become legit and quietly buried the evidence of their past.

[bb88]

Tether is still banned in NY, AFAICT (Maybe I'm wrong here).

> But once they realized they had accidentally created a money-printing machine

So that's a joke right? They on-purposely created a money-printing machine. But my god, the fraud was so profitable they needed a way to make it legit because no one wants to live in Panama.

[daft_pink]

Are we sure they actually have the reserves?

[wslh]

I think at this point yes, if you follow their news it seems they see now as a big financial group that goes beyond crypto.