How safe is USD Tether? I'm getting mixed signals because

as safe as anything run by jews

File: Breakfast-drink-for-the-true-cow-fan.jpg (102KB, 700x490px) Image search: [Google]

102KB, 700x490px

We can start with the fact that "backing" a crypto token with a worthless inflationary currency is, just, so fucking stupid.

We can move on to the fact that even if all of the USD that is supposed to be backing these tokens actually exists, it's almost certainly in a custodial account which makes it vulnerable to seizure or an account freeze.

And we can finish out with the fact that there's basically no chance in hell anyone would actually be able to trade their USDT for USD with the AML/KYC involved, and even if they could Bitfinex is under no obligation to trade them anyways.

And just for fun we'll cover the fact that they can literally just create them out of nothing and use them to buy actual assets, leaving everyone else holding the USDT bag with no legal recourse.

Pic: something with more actual value than USDT