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ddtaylor · 2018-05-17 15:12:35+00:00

I agree, Tether is simply the closest I have found to the joke claim on the SEC website, so I really don't know where they are getting that one from.

anonfromsomewhe | karma 14 | avg karma 0.67 · | 2024-01-13 07:50:04

no that is a fake news. SEC and HN said tether it s a scam. HN said it for years. So all going to 0 soon.

Alex3917 | karma 30435 | avg karma 3.42 · | 2022-06-09 15:34:25

Sure, all I'm saying is that if this is the SEC signaling that they're going to go after Tether next then that's a lot more interesting.

umanwizard | karma 14757 | avg karma 2.5 · | 2018-01-27 12:32:25

To be fair, tether really is quite shady. I think the real truth is probably somewhere in between.

wmf | karma 46152 | avg karma 2.46 · | 2021-10-15 13:17:59

It's debatable whether Tether has a few inaccuracies or massive fraud.

ursuscamp | karma 812 | avg karma 10.28 · | 2023-03-10 22:14:58

Why makes Tether a fraud?

PragmaticPulp | karma 66674 | avg karma 12.83 · | 2021-01-14 03:58:31+00:00

Could you please elaborate rather than giving a drive-by dismissal?

I'm explaining the fraud angle that everyone is concerned about.

Of course, if Tether works exactly as the Tether corporation claims (but has yet to prove) then there's nothing to see here. Seems that they would be quick to try to prove this to regulators, though.

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arisAlexis | karma 933 | avg karma 0.63 · | 2022-06-13 07:21:02

No it's not... there has been rumors about Tether since 2015.

caprese | karma -1 | avg karma -0.0 · | 2019-04-25 22:58:03+00:00

WELL, do note that this is about an infraction that occurred in mid-2018, LONG after the "ardent HODL-ers" were skeptical about it and while Tether had its highest level of confidence in the market, instead of like 2016.

So it is almost like a caricature of its own criticisms.

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Havoc | karma 16454 | avg karma 2.29 · | 2021-09-24 11:20:09

Honestly I'd be more surprised if they weren't.

Wouldn't mind if the SEC takes tether down a notch...they're a risk to the entire crypto ecosystem

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ur-whale | karma 5038 | avg karma 1.32 · | 2021-10-15 13:59:00

It's not, he's simply pointing out that there's even bigger scam out there. That's not the same thing as defending Tether.

roland35 | karma 2945 | avg karma 2.68 · | 2022-12-23 16:55:42

That's crazy. I'm thinking Hanlon's razor applies here, there is absolutely no evidence that tether is legit.

uejfiweun | karma 1728 | avg karma 2.38 · | 2022-06-18 16:05:14

I'm not really seeing much evidence for this other than this tweet. And the site seems to be working fine. I want to watch Tether go boom as much as the next guy, but this one might be fake news.

anonymoushn | karma 6102 | avg karma 1.88 · | 2021-02-18 11:10:19+00:00

The claims I have seen from you and from e.g. Sam Trabucco amount to basically "Tether is legit because we create and redeem tethers regularly." This is not real evidence, in the same way that "Bernard L. Madoff Investment Securities LLC is legit because I deposit and withdraw funds regularly" is not real evidence.

seaourfreed | karma 413 | avg karma 3.59 · | 2022-07-19 16:23:52

I just whistle blew on Tether. Tether is likely to crash. I can't wait to get rich from the SEC award

matthewdgreen | karma 9367 | avg karma 4.09 · | 2019-04-26 18:19:04

The claim is that Tether isn't backed by enough dollars to cover the number of Tethers in existence. There could still be a bunch of dollars in the bank.

BoiledCabbage | karma 5919 | avg karma 4.34 · | 2021-05-21 14:40:34+00:00

I keep reading that Tether is the ponzi in the ponzi-scheme.

i_am_jl | karma 1040 | avg karma 3.57 · | 2022-05-12 13:21:04

Hahaha holy shit, how has there been so much discussion about Tether that doesn't start and end citing these clauses?

mertd | karma 2403 | avg karma 3.64 · | 2018-02-01 16:21:48+00:00

That's the allegation, or people legitimately bought tether. It's not clear which is true. Hence the investigation.

ETH_start | karma 677 | avg karma 0.58 · | 2022-11-04 22:21:56

The conspiracy theory is an extreme exaggeration on what has been admitted, which I believe is - at one point - reserves of 77 percent of liabilities, and even that admission I'm not certain about given how much any news about Tether is misconstrued by the regulatory crowd.