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A comment on BitConnect Closes Exchange as States Warn of Unregulated Sales. Parent comment

Re:BitConnect Closes Exchange as States Warn of Unregulated ... by PeterisP on Wednesday January 17, 2018 @09:50AM (#16168276)
Unless they would prove to the public and/or competent regulatory authorities that they definitely have done that, they should be considered as "printing" this money.

Proven reserves count, claimed reserves don't. If USDT is "covered" by reserves that are claimed but not verified, then USDT is not covered.

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Re:BitConnect Closes Exchange as States Warn of Unregulated ... by ForHackernews on Wednesday January 17, 2018 @10:21AM (#16168598)
Tether did a fake "audit" to show they were legitimate: https://medium.com/@bitfinexed/the-so-called-tether-audit-th...
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