Altcoins News
By James Thorp
1 / 14
A recent critical tweet read: Tether has always had an aura of Trumpian invincibility. Hey, look at all these bad things we do. But we're getting away with it.
2 / 14
For those who do not understand the meaning of Trumpian invincibility, it is important to recollect Former President of the United States, Donald Trump who exhibited the quality…
3 / 14
In simple terms, John Paul Koning implies that Tether has an aura of overconfidence.
4 / 14
In the concerned blog post, John Paul Koning points to why he has been focusing so much of his time on Tether stablecoins.
5 / 14
In response to the critical tweet one of the users stated: The reaction from the maxis to the NYAG report on Tether felt a lot like Trump's reaction to the Mueller Report:…
6 / 14
For clarity, exoneration means the action of formally saying that somebody does not have to take responsibility for something like blame and vindication.
7 / 14
Those who love Tether are obviously defending the “overconfidence of Tether”
8 / 14
John Paul Koning has called Tether, a bigger and badder PayPal.
9 / 14
He has also pointed to how, among stablecoins, attestations have become industry standard. He has also clarified stating, an independent accountant is engaged to verify that the…
10 / 14
Auditing is a method to instil confidence in stable coin users, therefore assuring that the stablecoin is safe to use.
11 / 14
Reportedly, TrueUSD has real-time attestations. USD Coin, Paxos Standard, Gemini Dollar, Binance USD, and HUSD has monthly attestations.
12 / 14
So left wondering, Tether, the laggard, has broken with industry standards. How is the public supposed to verify the quality of Tether's reserves without a qualified independent…
13 / 14
While it is natural for supporters to grow offensive, it helps for newcomers in investing to understand regulated stablecoin, what stablecoins to accept and about eligible…
14 / 14
Finally, concludes stating that isn't to say that Tether isn't safe for consumers to use. Over the course of history, there have been many well-run financial institutions that…
The Currency Analytics
Want the full story?