Re:The Tether Ponzi Scheme
by fastball on Wednesday May 19, 2021 @05:53PM
(#27215006)
How is USDC nonsense? If you actually have the associated USD as collateral, it is most definitely not nonsense.
[ Parent
| on HN ]
A reason to be wary about USDC are that their haven't been audited, just attested https://www.circle.com/en/usdc , and not even recently at that.
Note that attestations are easy to fake: the article mentions the case of Tether
> Failing to complete an audit and settling on an attestation “for transparency”. The morning of the attestation, tether moved $380m from sister company bitfinex into a bank account to pass the verification