what do you guys think about this?
crypto nerds will seethe
>>61667915fuddies in shambleshaving gold means tether literally cannot be a scam
>>61667915tether is a ticking time bomb
>>61667921tether are crypto nerds tho
>>61667937why?
>>61667915So crypto is largly backed by Gold?
>>61667915>cryptonerds are so rich that they own more PM than PMtards
>>61667915>The federal reserve holds even more gold than we initially thoughtCool storyR.I.P. Nikolai
>>61667915So did they do an third party audit of their gold reserves or did they just put up some numbers on their website?
>>61668349I audited their bitcoin myself
>>61667915I think it’s good that they finally figured out that their balance sheet should hold something that won’t inevitably go to zero, but overall the move is too late.
>>61668290Nope. It’s largely backed by us debt.See: https://tether.to/en/transparency/?tab=reports
The whole point of the genius act was to offload us debt into the crypto market via stablecoins.
>>61669103US treasuries can't go to 0the USD can go to 0, not the treasuries>overall the move is too late.they hold it as backing for their gold stable it's not really "their gold"but it does make them the largest private holder, with 116 tonnes
>>61669136>offload us debt into the crypto marketit doesn't offload into the "crypto market"it offloads it to users who want access to the US dollar but have no means of purchase (without paying exorbitant fees)
>>61667915>op didn't provide a source
>US treasuries can't go to 0Ok, have fun. I hope your hands are strong.
>>61669146Ok, now can you tell me what percentage of USDT holders do so for purposes other than trading crypto?
If not, can you tell me what percentage of the USDT mcap is used for purposes other than trading crypto?
>>61669152they can't default and go to 0the US dollar can lose its value and go to effectively 0 in terms of goods/services know the difference
>>61669152The US has full sovereign control over its currency. It literally cannot default on debt issued in USD, there's always the option of printing trillions to repay it.Of course this would make USD practically worthless but treasuries will never go to 0. This is not like Argentina which had debt denominated in USD or Greece which had to share the Euro with the rest of the Eurozone.
>>61669147https://www.ft.com/content/37f80249-2ca0-4369-9898-bde2689d443a
>>61668296unironically always have been
>>61669407> subscription required
>>61669361>>61669393
>>61668349>just trust me bro
>>61669737do you not understand how bonds work?or are you just trying to save face now equating both scenarios?>>61669750this is essentially modern finance in a nutshell even the audit is a literal trust me bro, you're just trusting another third party
>>61669407>>61669449https://archive.is/FAXyX (Nov 25, 2025)
>>61667915JUST WENT ALL IN TETHER BABY!! LETS DO THIS!!!
>>61667915too bad stable coins don't increase in value
