Cryptocurrency Tether (USDT) Coin Explained For Dummies #criptocurrency #cripto
In this fun animation we ask, is USDT and USD same thing? Can I receive cash for my USDT? And how does USDT work?
Despite a public outcry for for an audit, Tether has been unable to produce evidence of the $2 000 000 000 it claims to possess. [reference 1]. The only real confirmation is from people associated with the company, rather than an independent entity representing the crypto community.
In late January, it was revealed that Tether had been withholding information about a subpoena that was issued in mid December. [Reference 1].
Tether being found fraudulent would not only damage crypto prices, but increase push for crypto regulation, legalization, and in consequence, hinder actual growth of crypto applications being used by the masses.
Reference 1: https://www.coindesk.com/tether-confirms-relationship-auditor-dissolved/
Reference 2: http://www.businessinsider.com/tether-and-bitfinex-subpoenaed-by-the-cftc-2018-1