I would like to raise a very strong point about
tether over here
https://pasteboard.co/HVbcwS2.jpgthe above image displays that it has
Total supply of 2,580,062,243 USDT
------------------------------------------------------------------
https://pasteboard.co/HVbcIL5.jpgthe above image displays it has a volume of
$3,752,040,845 USD as of 6th january
now how is this even possible the one which is backed with 1:1 to have value over 3.7 Billion for 2.5 billion token
because if you multiple 1.02 X 2,580,062,243 its = 2631663487.86
but over here we have $3,752,040,845 USDT
another point is on 21st december tether had 24 volume of over 6.8 billion
now the token are either disappearing from 6.8 billion tokens if its backed with 1:1 so the total supply remains 2,580,062,243 USDT to this date
How is this possible I feel we need regulation on tether
ASAP And investigation what omni perhaps is doing with this.
i feel tether has a wallet and the creator has been manipulating with unlimited tether tokens that's the only reason we cannot see the tether actual usage and volume. This is really serious i feel someone could check tether out.. seems like a group of people perhaps around 20 or 25 dividing and splitting around everywhere to manipulate crypto space with their evil intensions..
That was why many people despised this so-called stablecoin, and yes they can create or mint a new token. Did you remember when they got hacked a couple of months ago?
they were losing a lot of money in the process, and to fix this up they created new tokens/generate new tokens.
that was why you will never see a fixed number of this tokens forever. And, that was one of many reasons why many projects created and claimed to be the next stablecoin lately.
P.S ; I do not think this is a right thread to discuss this problem, you better make a thread outside ETH thread.
