Tether
Tether is a cryptocurrency that represents real-world assets like the Dollar and Euro on cryptocurrency markets.
Reviews for Tether
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The success of Tether, despite severe flaws in centralization and lack of transparency, is the only rebuttal necessary. Thereβs 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 review2017-12-16
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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 review2018-06-20
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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 review2018-06-20
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Tether is still shady as fuck though, but as a principle it could be applied to other tokens and is an interesting development.
Full review2018-04-04
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If markets thought Tether was insolvent, it would not still be trading (even against USD) at 1:1.
Full review2018-02-13
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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 review2017-09-30
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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 review2018-09-26
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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 review2018-09-10
Stablecoin comparison
See how Tether compares with other stablecoin cryptocurrencies.