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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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25712342 No.25712342 [Reply] [Original]

Tether’s promise to keep as many U.S. dollars in reserve as there were USDT in circulation was simply not possible given Tether’s troubled banking history.

Bitfinex and Tether’s banks cut off their accounts in early 2017, and they would not regain access to correspondent banking for another six months, Yet during those six months, Tether issued 409 million new USDT—nearly ten times as much as in the prior two-and-a-half years.

This is your reminder that tether is printed out of thin air and backed by nothing. On Jan 15th, all USDT liquidity will dry up, exchanges will freeze and your internet coins will become worthless.

>> No.25712380

>>25712342
I ran this thru my ML software and it text came back: 97% Match - African Origin

Are you actually in Africa?

>> No.25712430
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25712430

>>25712380
Fuck off tranny.

>> No.25712507

Nothing is happening on the 15th, it is literally a deadline for Tether to submit documents for a case almost completely unrelated to their reserve/backing.

>> No.25712586
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25712586

>> No.25712630

>>25712507
It doesn't change the fact that Tether isn't backed, and it will inevitably crash the market beyond repair.

This is what you get for trusting the chinese.

>> No.25713639

>>25712630
Holy shit, it's like I'm really back in 2017 again! Bull run confirmed boys.