Are pixie fairies behind Bitcoin's latest bubble?

Re:Are pixie fairies behind Bitcoin's latest bubble? by amycastor on Sunday November 22, 2020 @11:28PM (#25183588)

If Tether were in fact receiving real USD to support the billions in USDT it keeps issuing, then why hasn't it handed over financial docs to NYAG, which is investigating it for fraud? Why has it not had a third-party audit? Why does it keep printing USDT in larger and larger numbers (a sign that the real $$ may be disappearing from the system)? Why don't we see a similar growth in other regulated stablecoins?

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Re:Are pixie fairies behind Bitcoin's latest bubble? by darawk on Monday November 23, 2020 @05:21AM (#25185284)

Because their banks keep shutting down their accounts. They've been playing whack-a-mole with regulators for a long time, and they probably view the NYAG's request as a backdoor way to find out where and how they're banking in order to shut them down.

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Re:Are pixie fairies behind Bitcoin's latest bubble? by 35fbe7d3d5b9 on Monday November 23, 2020 @11:07AM (#25188203)

So nobody knows if Tether is backed because:

* it isn't and Tether wants to keep people in the dark

* it is, but a hammer is ready to fall that probably involves OFAC freezing funds

Any other options I'm missing? Because neither of those look good.

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Re:Are pixie fairies behind Bitcoin's latest bubble? by darawk on Saturday November 28, 2020 @04:08AM (#25236408)

People have been saying this for years now. Not only has nothing materialized, but the price has barely ever deviated from the 1:1 peg.

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