The Tether blockchain is not a real blockchain as you know it. Either the chain or the on chain Tether implementation allows coins to be deleted and moved around without consent of owner. Tether docs even say this. Tether can destroy coins remotely. It’s closer to a totalitarian nightmare than a Bitcoin.
Ummm, excuse me, but Tether is not a blockchain...
ll of the fake money is controlled with the TRON chain to make sure it stays on the exchanges that were in China. That way the American regulators can't even see it let alone touch it. Most of them claim to not be in China now because of the ban, but it’s very hard to know for sure.
This doesn't make sense, public blockchains are publicly available, hence, anyone can peruse/audit what went where, who sent what, how much was sent, etc. They can't force people out of their jurisdiction to do anything, but they sure as hell can see what's going on.
China kicked all the exchanges out in 2021. So now they’re “Chinese” exchanges, but (maybe) not in China.
WTF? Crypto a whole is banned in China, nevermind exchanges.
Tether is busted by NYAG for printing unbacked USDT. They were claiming that they had cash deposits equal to the number of tethers in the wrold. NYAG proved there were not. Tether paid a substantial fine
So what is it then? Did NYAG just accomplish what was described as impossible a few pharagraphs above? smh
USDD is an algorithmic stablecoin3 on TRON created by Justin Sun. When? Relatively recently. After he fled the authorities in Dec. 2021 and became an ambassador in Grenada (no, seriously). USDD is documented to not work in Bennet Tomlin’s investigation thread. In fact according to Tomlin, it is broken in such a way that there is no public mechanism for stabilizing it. It claims to be like Luna/Terra but it is not. It’s like a balance scale that only allows you to put weight on one side. And yet it stays stable. Thus there must be something we cannot see that keeps it stable…
USDD is a known scam, in fact, Justin Sun owns most of the circ. supply. Cofeezilla made a video about it.
While Justin Sun is without a doubt a scammer, this post is a tin-foil hat nothing burger...Kudos to the author for it's excercise of creative writing.
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