07-03-2021, 06:03 AM
Why doesn’t everyone distance themselves from Tether? With no transparency or audi
<!-- SC_OFF --><div class="md"><p>There is no transparency and they could crash the market. They can’t be trusted basically and there are other stable coins so why stick with Tether? And if no decent alternative exists why hasn’t one been made?</p> <p>They still haven’t been audited as far as I know which should be a massive red flag cos we just have to take their words for it that the money is all there on the exchange. </p> <p>They also have people working for them with nefarious backgrounds, so why are they being trusted? They could be printing money for all we know and if they crash the market and everyone was to lose their crypto it would be a disaster. It could easily be avoided too but the longer this goes on the more I worry about it. </p> <p>Surely everyone with holdings on Tether must know this because it would be stupid not to know the details of the company where you’re storing your crypto.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/_Carnage_"> /u/_Carnage_ </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oc4yo5/why_doesnt_everyone_distance_themselves_from/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oc4yo5/why_doesnt_everyone_distance_themselves_from/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>There is no transparency and they could crash the market. They can’t be trusted basically and there are other stable coins so why stick with Tether? And if no decent alternative exists why hasn’t one been made?</p> <p>They still haven’t been audited as far as I know which should be a massive red flag cos we just have to take their words for it that the money is all there on the exchange. </p> <p>They also have people working for them with nefarious backgrounds, so why are they being trusted? They could be printing money for all we know and if they crash the market and everyone was to lose their crypto it would be a disaster. It could easily be avoided too but the longer this goes on the more I worry about it. </p> <p>Surely everyone with holdings on Tether must know this because it would be stupid not to know the details of the company where you’re storing your crypto.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/_Carnage_"> /u/_Carnage_ </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oc4yo5/why_doesnt_everyone_distance_themselves_from/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oc4yo5/why_doesnt_everyone_distance_themselves_from/">[comments]</a></span>Kind Regards R