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Re:Tether Fined $41M for Lying About Reserves by tdeck on Friday October 15, 2021 @02:52PM (#28881562)
Because the "misleading statement" (i.e. deliberate lie) is the entire basis of Tether's business. The service they claim to provide is fiat backing for their cryptocurrency and they didn't do that. That's not "a few inaccuracies", it's fraud.
Re:Tether Fined $41M for Lying About Reserves by _3u10 on Friday October 15, 2021 @04:06PM (#28882507)
Isn’t the basis of the business that tethers are exchangeable for USD? Have they failed to provide USD when asked?
Re:Tether Fined $41M for Lying About Reserves by tdeck on Friday October 15, 2021 @06:22PM (#28883821)
Essentially yes. They throw up all kinds of roadblocks to make it difficult to exchange tether for cash in order to preserve the facade.

Just one article I found: https://www.google.com/amp/s/micky.com.au/irredeemable-why-i...

Re:Tether Fined $41M for Lying About Reserves by orthecreedence on Friday October 15, 2021 @06:48PM (#28884034)
Wait, has anybody ever in the entire existence of Tether actually withdrawn their USDT for USD??