Allegations or not, Tether has had real, real issues for a long time. Supporters will say no, this isn't another Mt. Gox, No this isn't another DAO (Ethereum rewind and forget we ever got hacked).
But hopefully people understand now that tokens like Tether are nothing at all like actual blockchain cryptocurrencies. The concept was a fairly good one, to allow for easy trading, but it should have been an internal system at best, not allowed to run amok with other crypto. Pegged to the US dollar and yet sliding in value. Hidden and vague connections to corporate structures. Running into trouble with banks.
This is what happens when corporate ideas are spun around crypto.
But hopefully people understand now that tokens like Tether are nothing at all like actual blockchain cryptocurrencies. The concept was a fairly good one, to allow for easy trading, but it should have been an internal system at best, not allowed to run amok with other crypto. Pegged to the US dollar and yet sliding in value. Hidden and vague connections to corporate structures. Running into trouble with banks.
This is what happens when corporate ideas are spun around crypto.
The lack of transparency with tether kills all good in this concept
And bitfinex "audit" just adds more questions
