Tether is a cryptocurrency that represents real-world assets like the Dollar and Euro on cryptocurrency markets.
Reviews for Tether
The success of Tether, despite severe flaws in centralization and lack of transparency, is the only rebuttal necessary. There’s strong demand from the crypto community for a decentralized stablecoin; that is undeniable.....
By success, I mean that there's now over $1B worth of Tether trading volume/day and it's the 4th most actively traded cryptocurrency by volume:.Full review
If Tether can't just publicly show their bank statements, accounts, signed powers of attorney docs, and executives' authorized signatures against issued tokens, then it's very likely it's a fractional reserve gone *very* wrong.
Lesson: Trusted third parties are security holes.Full review
Just because a document shows a certain bank balance amount on a certain date doesn't mean the funds are unencumbered/free and clear.
An audit, which Tether refuses to provide and which companies large and small undertake on a regular basis, would answer that question.... Additionally, assuming, arguendo, that Tether is backed 1:1 (which I otherwise do not), that much cash sitting in a bank should trade not at par but at a discount commensurate with the credit rating of the bank.Full review
Tether is still shady as fuck though, but as a principle it could be applied to other tokens and is an interesting development.Full review
If markets thought Tether was insolvent, it would not still be trading (even against USD) at 1:1.Full review
I'm afraid Tether is an accident waiting to happen. I won't be surprised if bank accounts freeze on accusation of abetting with money laundering.Full review
Everyone seems to think that Tether's main problem was whether it's 100% backed...but it's main problem is that it's centralized. And GUSD and USDC are just Tether 2.0.Full review
Tether is a systemic risk in that if it explodes, billions of dollars could effectively disappear and cause exchange insolvencies. An alternative to Tether hugely reduces that risk.Full review
See how Tether compares with other stablecoin cryptocurrencies.
Dai is a decentralized, fully collaterized stablecoin.
TrueUSD is a dollar-backed stablecoin running on Ethereum.
Gemini Dollar is a USD-backed stablecoin.
Tether is a dollar-backed stablecoin.