/biz/ - Business & Finance

>>52512867
>Tether is 1:1 backed by USD.
Actually it isn't:
https://tether.to/en/transparency/#reports

Seeing what happened in the bond/other financial markets I'm kinda surprised nobody questions this "1:1 backed" meme even if you go with the official version (hint: value of the reserve should have decreased since yields went up). And everyone knows the official version is a big fucking lie and funds are missing.

The fall of tether will be the real Lehman moment of crypto. The only missing piece is a serious bankrun. The market cap decrease so far wasn't really a bank run, I wouldn't call it a "collapse". So the boomer fuck on ops screenshot isn't really right. But it can easily happen in the (near) future.