Stop using USDT now!

Tether is a 118 billion dollar scam; bigger than FTX & Bernie Madoff combined!

No proof of reserves & an audit has never been done; USDT is printing counterfeit money (fraud)

Caught falsifying documents, obscuring identities & lying about reserves

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The potential for collapse here is greater than Terra Luna!

Making it one of the biggest existential threats to crypto as a whole

As we have to trust they hold $118B in collateral without proof!

Even after the CFTC fined Tether for lying about their reserves in 2021...

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Uh oh, the tether fud is back!

There has never been an audit of USDT, despite promising to do so since 2015

This means we have to take their word for the vast majority of reserves, as they cannot be independently verified

The first firm to attempt an audit even got fired for being too thorough in 2018!

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he sold his btc at $1000

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By 2021, Tether released an "auditor's report" in partnership with BDO

However, an "Auditor's Report" or an "Accountant Report" is not a formal audit at all!

Despite the claims, Tether has never submitted its alleged reserves to a real unrestricted, third-party audit!

The 2021 CFTC fine was a settlement to end an investigation into an alleged loss of $850 million in commingled client & corporate funds

This did force an attestation, which revealed that their balance was made up of commercial paper of unknown origin, quality, & liquidity!

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tether fud

reddit spacing

I don't use tether but you need to go back

This all only scratches the surface of the Tether story

It is an iceberg of corruption, conspiracy & crime, with its tendrils reaching everywhere

This might very well be the biggest scam in all of human history

With the only exception being the current central banking system

Which essentially does the same thing

But at least they are honest about it while also invoking the authority of democratic government!

Cryptocurrency was invented to circumvent such centralized authorities

That we have ended up re-creating the very systems we intended to replace is shameful

Reminding us of the inherent perniciousness of the centralization of power

As absolute power corrupts absolutely

Today, USDT is third in market-cap & has the majority of volume

Who knows how they manipulated markets with their money printer

There are now many respectable stablecoins we can use instead

Let's do justice to cryptocurrency & wean off USDT; before it drags us all down!

tether has more relative to stack collateral to back it up than your bank. by your logic you should stop using banks.

tether fud is back

burn this shit scam to the motherfucking ground already

Tether is so fucking profitable that it might have started off as a scam but its probably fully backed now. They just need to hold their cash holdings in a laddered treasury setup and they can just collect interest

anon what are some respectable stablecoins?

Probably USDC and maybe Dia but not sure. I like USDC the most then tether second

That's bullish.

Not sure if ironic shitpost or you're a retard who got scammed.

This. When I first became interested in crypto, I was worried about Tether's trustworthiness. Then I realised that they are too big to fail, and the US government won't go after them because Tether is one of the largest private holders of US treasuries.

OP didn't account for that and that's why he's seething for over 7 years straight

The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States

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Tether fud?
Finally a real bottom signal

load ze tether fud

if i listened to Bitfinexed tether fud in 2016/2017 i would have been poor now. instead I didn't listen and now I'm financially free while those who listened are coping. (the sold below $1000/btc

You better dont ask when fort knox has had last audit and noone really knows whats there now..

tether fud

Unironically a bull signal. They're about to print.

Tether is a 1 scam; bigger than FTX & Bernie Madoff combined!

TOP SIGNAL

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The Fed has never been audited either. Welcome to finance, its all a huge scam. Nobody cares