Topic: Tether and its transparancy (Read 257 times)
They have a bank account, all dollars are there. Probably you can ask them about bank account statement to see how much money they actually have.
Hi folks!
"One Tether (USDT) is always backed by one 1USD."
The token is premined, according to Coinmarketcap there are 127,493,815 USDT circulating, which means Tether needs to hold 127,493,815$ in stock correct? According to a couple of sites, their balances can be verified right here: https://wallet.tether.to/transparency
What i don't understand: how does that tell you they actually have that amount of money in store and have all the USDTs backed? They can put whatever they want up there? "Yeah no worries dude we got the dollars here in a safe, you just get your USDT bro, no worries. Just take a look at our site, see? It says we got it."
They claim they got their bankaccounts and papers checked by 'professionals' on regular basis, but where can i verify that? Shouldn't they at least not be listing who is auditing them so we can do some more investigation?
"One Tether (USDT) is always backed by one 1USD."
The token is premined, according to Coinmarketcap there are 127,493,815 USDT circulating, which means Tether needs to hold 127,493,815$ in stock correct? According to a couple of sites, their balances can be verified right here: https://wallet.tether.to/transparency
What i don't understand: how does that tell you they actually have that amount of money in store and have all the USDTs backed? They can put whatever they want up there? "Yeah no worries dude we got the dollars here in a safe, you just get your USDT bro, no worries. Just take a look at our site, see? It says we got it."
They claim they got their bankaccounts and papers checked by 'professionals' on regular basis, but where can i verify that? Shouldn't they at least not be listing who is auditing them so we can do some more investigation?
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