alt Hacker NewsThe problem with Tether is that they are tight-lipped about their backing assets. No one knows if the peg is real, it's just "trust me bro"
Replies
antoniuschan99 • last Saturday at 10:40 PM
Also interesting that tether is the private largest holder of gold at 14 billion $ xaust
Well they publish attestations from third-parties, but no full audits, so sure they could be much more transparent.
But the claim about USDT ever claiming that its supply wouldn't increase is pure fantasy. It literally makes no sense if you understand how the peg is maintained (technically by minting and burning tokens).