Tether Is In Trouble

It’s all a Ponzi scheme

it's remind me of fiat money that used to be backed by a gold. and now its not backed by anything at all

Tether is not the real stable coin here. Bitcoin is.

They've always said tether was a scam. It still just keeps chugging along.

How is this any different then the gold reserves that were supposed to exist at Fort Knox to back the dollar?

Tether still around??

I'm not certain what you mean by "attestation" but I know an attestation engagement IS an audit engagement. It ends in a report on the financial projections and information, as well as the internal controls preventing fraud and embezzlement. It can only be signed off on by a CPA.

Investors lost 2 trillion dollars in cryptocurrency in 2022. If you think investing in crypto is a smart idea, chances are you probably couldn't pour piss out of a boot with the instructions on the heel.

The Waffle House Has Found Its New Host

its NOT

Ahh sweet Alameda Research, the domino effect is a wonderfull thing.

Have you gotten in EARLY on the Ponzi Scheme ?

L

Tether is like petrodollar. Propped up by vapor.

Tether is still alive and well. When its gonna go down ?

An accountant named "Foster", who was an Ashkenaz (seeming Caucasian but not really) stole from my father. 1960s.

Do one on Enron.

not really, this aged badly tbh

And we wouldn't want to be caught in a nook-ya-lur bomb explosion.

And 9 months later, USDT is holding 1:1. In fact it's slightly above $1.

Coffezilla something is happening it started 5 days ago. Tether is going down someone is syphoning.

update. tether didn't collapse

Laughing at the people saying "coffee is wrong, Tether still exists". It only exists because they keep pumping out billions of funny money USDT tokens backed by nothing and use it to buy Bitcoin to prop up the price. It's all just imaginary!

How’s tether still going

And tether recovered

Cool fud. Tether still stands

It's the same with all banks, they all over leverage.

Ooo he dropped the ENRON on them!

They didn’t listen 😢

Big whales like Alameda research, lol!!

One year later, and tether is ok. Isnt it?

It seems to me that the federal reserve benefits from having tether around because they are one of the very few left purchasing bonds. Or have they restricted themselves to buy T bills only now? What happens to tether when the world is de-dollarized?

Tether is doing fine .

Of course it's a ticking time bomb, however, the reason it's not going off is that weirdly, all of crypto seem to have just universally accepted that fact, but also know that they've managed to store mini clusters of that bomb in every single other asset, and if it goes, everything does. So they've just hone with the old "too big to fail approach" and most amazingly, it's still holding together.

Two years later, turns out doofus here was wrong about Tether being in trouble, just like dozens of doofuses before him

> "What does Alameda Research know that we don't?"

My good MAN

retrospective interesting cause they put tether prolly out to buy up at the below 30k prices in 2022

in a way tether is obviously a scam or at least definitely not backed and from a logic perspective should go down one day but on the other hand its the similar thing on how the dollar itself works not backed and can be created out of air

only difference is obviously that the dollar is „backed“ by military and the american oil war system but it survived longer than it should

Bruh, 2024 here, it just passed 110 bn market cap…

some foreshadowing Alameda Research cashing in a bunch of Tether!

Interestingly it seems it actually survived and is still around, at least according to a google search

Tether is still around now though?

They are now buying treasuries through Cantor Fitzgerald. We have now reached peak ponziception. The kleptocurrency market was created to prop up the petrodollar ponzi scheme and keep the dumbest of the dumb out of tangible assets. This is how America pays its debt off.... LOL and it's working!

USDT will be delisted from EU exchanges Dec 13, 2024 as per MiCA regulations.

How are they still around when I google them? :(

Thankfully I read stuff about how Tether is not allowed in European exchanges.

Tether, as transparent as a cup of black coffee

@coffeezilla I do feel like this would be a fun one to follow up on, some years later. What worked, what didn't work, what that means overall... is tether a successful story of market self regulation? Or not so much?