/biz/ - Business & Finance

>>58106931
>>multiple academic studies have concluded
>that rape culture is endemic in dog parks.

Nice false equivalence, faggot. There is absolutely NO valid reason to give Tether the benefit of the doubt here, as mentioned they've already been caught with their pants down, blatantly lying about USDT being backed 1:1 and now they expect us to take them at their word that everything is above board all while stubbornly refusing to submit to an audit.

>No doubt taxpayers are going to bail them out at some point

lol which taxpayers? Tether HQ is deep offshore.

>Tether decided to stop serving individual and corporate customers from the U.S. As of January 1, 2018, no issuance or redeeming services will be available to Residents or Citizens of the U.S.

No bailouts, faggot.


>to go under unless they do something profoundly stupid

lol like printing *billions* of USDT out of thin air whenever they feel like pumping BTC? What Tether is doing is mathematically unsustainable, so its not a question of IF they will implode, rather its merely a question of WHEN they implode.

Go gaslight somebody else, we're not falling for it.

>>57756104
>how many years has tether been getting away with this

Since at least 2016. They were fined $41 million in 2021 for flat-out lying about USDT being 1:1 backed, turns out issuing unbacked Tethers was/is the norm. They were also caught lying about their ownership of Bitfinex.

And they STILL stubbornly refuse to submit to a *full and thorough* 3rd party audit despite promising to do so for years, we have to take these admitted liars at their word that "Tether is totally backed now, bro, trust me!"

The entire operation is shady as fuck: Tether is about to hit $100 billion USDT issued yet it has only 5 employees managing everything....it also relies on a very convoluted issuance scheme that seems specifically designed to frustrate litigation efforts.

>Nowhere in Tether’s Terms is it mentioned at all whether, as far as a USDT user is concerned, the USDT issuance comes from Tether Limited, or Tether International Limited.

>Everything appears to depend on where the user is domiciled which creates an impossible infinite loop to determine the appropriate forum to bring any litigation.

>For example, let’s say you’re a US-person, Tether’s lawyers could argue the USDT you hold was issued by Tether Limited (the BVI entity), and given you don’t have a direct relationship with Tether (it was purchased in secondary markets), that makes your use of Tether in violation of Tether’s Terms.

>Tether’s lawyers could then defend a claim by pleading forum non conveniens — meaning the court where that lawsuit has been brought is not the proper forum to exercise jurisdiction over the case.

https://archive.is/FgRLK