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A comment on Report on Stablecoins [pdf]. Parent comment

Re:Report on Stablecoins [pdf] by panarky on Tuesday November 02, 2021 @03:00AM (#29077922)
There wasn't this loud of a chorus continuously yelling that Madoff and Gox were scams, in every possible media outlet from blogs to Bloomberg, for seven years.

There wasn't a well publicized US federal indictment and investigation of Madoff and Gox, settled with a fine and no injunction.

I'm not saying Tether is clean or 100% funded, I don't know. But unlike Madoff and Gox, accusations have been very loud and very public for a very long time, and the market still accepts USDT at parity with USD.

If Tether's treasury is empty, and if people can freely trade USDT for USD, it wouldn't hold 1:1.

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Re:Report on Stablecoins [pdf] by TheAlchemist on Tuesday November 02, 2021 @08:03AM (#29080002)
There were a lot of people saying Madoff was a fraud for years.

Check this guy: https://en.m.wikipedia.org/wiki/Harry_Markopolos

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Re:Report on Stablecoins [pdf] by panarky on Tuesday November 02, 2021 @11:24PM (#29090786)
Few have heard of this guy, while everybody has heard about how Tether is a scam.
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