Can someone redpill me on the whole Bitfinex/USDT thing? I've

Bitfinex using fake usdt that isn't backed up by dollars to buy bitcoins or some shit, fuck if i know I'm off to buy more dgb

>>3145498
yeah you can't do anything if it really is a scam, just try to get as much out of the market as possible without risking too much
no point in thinking about it honestly

>>3145498
>fake usdt

Whoever came up with that theory didn't present any evidence of wrongdoing.

>>3145498

https://hackernoon.com/the-curious-tale-of-tethers-6b0031eead87

Are you looking for this?

>>3145498
it looks like USDT, the company who claims each usdt is backed by a real us dollar, didn't actually back all USDTs with USDs.

In fact, they dont even have access to banking any more. Wells Fargo cut them off.

even after they were cut off, they began to issue Tethers, at a much greater rate in fact, and these tethers were used to buy btc, driving up the price.

I think if USDT is maintaining a high reserve ratio, it will be fine. people cant even redeem USDTs for USD anyway so its not like a bank run is going to happen and its not like they're lending out the USDs to anyone.