This is about Tether, which claims to have about $1.8 billion on deposit to satisfy claims against their eponymous cryptocurrency asset. I'll make a potentially controversial claim: it literally doesn't matter whether they *have* the money. https://twitter.com/Bitfinexed/status/954931013142089729 …
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The thrust of this conversation is "Tether claims that having 1 tether is exactly equivalent to having $1 in the financial system" and I, well, disagree.
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Ah I see. I thought tether got dissolved over the summer, or am I thinking of a different coin?
End of conversation
New conversation -
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You also have a guarantee that your $ sitting in your savings account is protected up some amount (100k€ in Europe afaik). Outside of liquidity, this is also a nice feature: nobody can fold or run off with your money without the bank regulators intervening
Thanks. Twitter will use this to make your timeline better. UndoUndo
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