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50 sats \ 4 replies \ @AJ1992 24 Oct 2023 \ on: Please help me understand Tether! bitcoin
Tether is pegged to the value of the US dollar. It means unless we see something like what happened to terraUSD (which wont happen with USDT) where the assets and collateral backing the token doesn't actually exist, it will always be worth $1 USD.
I think I heard tether concerns awhile back about a lack of audits? Are you aware of any proof of assets?
Thanks for your reply - and definitely agree it's a very different case to Terra Luna in its operations.
I suppose what I can't work out is - if they are fully backed - why not remove that doubt once and for all?