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A comment on Crypto Market Tops $1T as Bitcoin Breaches $37,000. Parent comment

Re:Crypto Market Tops $1T as Bitcoin Breaches $37,000 by mcintyre1994 on Thursday January 07, 2021 @09:53AM (#25671692)
Do they even claim to hold an equivalent in cash still?
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Re:Crypto Market Tops $1T as Bitcoin Breaches $37,000 by aent on Thursday January 07, 2021 @10:02AM (#25671816)
Nope.

It's "backed by other assets", not backed 1:1 but "is always valued by Tether at 1 USD" and "Tether makes no representations or warranties about whether Tether Tokens that may be traded on the Site may be traded on the Site at any point in the future, if at all." all on their website.

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Re:Crypto Market Tops $1T as Bitcoin Breaches $37,000 by geraldbauer on Thursday January 07, 2021 @10:02AM (#25671812)
See The Tether Press and Bitcoin's Speculative Mania [1]

TL;DR - Prepare to get filthy rich! In USDT terms.

[1] http://www.tr0lly.com/bitcoin/the-tether-press-and-bitcoins-...

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