Comment by Eji1700
12 hours ago
Curious if this finally pops tether. I kinda doubt it, but to my very mild research on the subject I feel like binance was a big part of the equation. Of course so long as the market exists it'll need a stable, and it's got the inertia, so maybe it just won't matter.
why would it pop tether? if anything, it makes tether more profitable, as they can collect the yield on the treasuries and not have to return the principal dollars which are frozen.
think of it this way - if someone steals your iphone, and you lock it, does apple pop? No, apple sells you another one. locked devices are good for apple because it causes more demand.
Because Tether is an obvious fraud linked to these other obviously fraudulent companies and predicated on trust in cryptocurrencies.
It's really hard to be an obvious fraud when you've been publishing attestations for years and now you have a "full independent audit" from KPMG for FY 2025, just like Circle/USDC.
https://tether.io/news/tether-completes-the-largest-inaugura...
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If the iPhone you bought can easily poof and be gone and locked somewhere, people will stop buying and using iphone and apple will pop
Freezing bank accounts was and is possible. People don't seem to be still using them.
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Is that what happens here? Tether just pocket the difference?
I would assume Binance is powerful enough to get Tether to issue new USDT and give it to Binance to replace the stolen-and-frozen USDT.
No lol
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