CTO

randysailer

Built to be upgraded what bull. The person that actually built Ethereum said we were under pressure to release something so we rushed the product out just to get something live and we DIDN'T build it to be upgradable. Thats the CTO that actually coded Ethereum. And sharding it much harder then a consensus change it was stated by a developer recently. And is the very reason why Solana is not sharded because they said it was to complicated. It's not me saying its the Developers. I think your wrong over them.

Horror-Macaroon3417

The CEO and CTO of SUI have a very impressive academic and employment history according to their LinkedIn. The CTO of APTOS also has an impressive academic history and Google scholar. So why do you paint all employees of NOVI (yep that’s the name) with this brush?

encodings

Mostly Digital Asset News, Into the Cryptoverse, CTO Larsson & Coin Bureau… just to get an idea of what’s happening…

notyourbroguy

Algorand is launching State Proofs soon. You will no longer need to trust a third party but only the two chains you are interacting with. All POS blockchains have the capacity to launch this functionality and it can set a universal standard for trustless "bridges" that eliminates all these needless hacks. John Woods, Algorand's new CTO who came from Cardano, has mentioned he is working with the Cardano team to implement them. [Algorand State Proofs](https://medium.com/algorand/algorand-state-proofs-707d64038e35#:~:text=tl%3Bdr%3A%20Algorand%20State%20Proofs,from%20the%20cross%2Dchain%20equation.)

tsumy

The new CTO of microstrategy says loudly that there's an asset which is at least the second best crypto asset. Or a definite date for the merge

parkway_parkway

I've been really loving the progress with Algo recently. Staci has been such a good hire and she's been bringing really good people in, I watched a cool interview with the new CTO of the foundation who is fresh over from Cardano and yeah I really agreed with a lot of the way he saw things. In general I think Algo is really positioning itself well as a chain which is an obvious and easy choice for big corps. And yeah that's rather against the anarchistic implies behind original Btc etc however I think if it's really going to become the backbone of world commerce it needs to be something extremely trustworthy and open to the big as well as the small. I'm hoping this fifa deal might really pay off during the upcoming world cup and get the chain noticed like it should be.

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/w79u5f/daily_general_discussion_july_25_2022_gmt0/).

coinfeeds-bot

tldr; Tether and Bitfinex CTO Paolo Ardoino has announced the launch of Keet, a blockchain-based P2P video chat app. The app will run on the Holepunch platform, which allows users to connect via text, call, or video via distributed technology. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/w79u5f/daily_general_discussion_july_25_2022_gmt0/).

coinfeeds-bot

tldr; Square Enix has partnered with Enjin to release NFTs based on Final Fantasy VII in 2023. The NFT tokens will be tied to physical action figures and trading cards to commemorate the game's 25th anniversary. Square Enix sought a platform that could “meet the needs of gamers,” said Enjin CTO Witek Radomski. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

seannash1

Does anyone rate CTO Larsen?

DMCarter_

You're being overdramatic. Collabs in crypto is good, even if its with projects you don't agree with. Besides, if Algorand wanted nothing to do with Cardano then I doubt the foundation would've hired John Woods (from IOG) to be the CTO.

binglebanglebongo

He used to be the CTO at Ripple, and as a co-founder, he was granted 9Billion XRP. When he left in 2013, he agreed to slowly sell it rather than dumping the 9 billion tokens onto the market. So for the last decade he has been selling his allocation from his 'tacostand' wallet and was expected to run out in a matter of days. It turns out he had more than was previously thought lol.

BoldlyResolute

What do you all think about QUANT and its patented overledger technology? The technology and vision of the company is wild. Apparently, QUANT will also link existing financial markets and ecosystems to the blockchain using the overledger technology and allow blockchains to communicate with one another seamlessly. The team and board have had careers working for Mastercard, J&J, Pfizer, Rockefeller Capital Management, Morgan Stanley Financial, ex CEO of Comcast, BP, HSBC, SWIFT, an the list goes on. A plethora of experience in cyber security and payment rails. The connections they have are wild. The CEO held high level positions in the HM treasury (British Treasury Department) as the CSO and deputy CTO. With a 15million (5 Million less than BTC) supply and what the team is trying to accomplish I'm super bullish on QUANT.

sldyvf

This sub to get the headlines, the comments to find out why that headline is good or bad or meh, then I read different blogs like cointelegraph for more news which I take with big grains of salt. Then for YouTube it's CTO Larsson, very sound and healthy investing channel. Trust me, his swenglish is perfect. Also Andrei Jikh. Then on twitter it's everything I can get over, but with a big big grain of salt. But not Eric wall, he is a big big mer but oh boy he is somehow refreshing to see in your Twitter feed. Everyone is a shill. However gathering a lot of information from different sources makes you the spider in the web, you know the rumours and the news and the hype.

IgnisVG

No, John Woods was Director of Cardano Architecture at IOG for the period when Duncan Coots, the Principal Technical Architect, was on paternity leave. The CTO at IOG is Romain Pellerin. He hasn't ever worked for Cardano Foundation, which is a completely different entity from IOG.

Maleficent_Plankton

What the heck is a "Technical Contributor"? He was the CTO of the Cardano Foundation.

theTalkingMartlet

Well…not exactly. Romain Pellerin is CTO and he has been for quite some time. Duncan is a technical architect. I think John was much more than a temporary employee and was for a bit. I think he just temporarily filled Duncan’s roll while on paternity leave.

Wabi-Sabibitch

>Working with John while he was standing in for Duncan during his paternity leave was fun. I'm delighted to see John step up as a CTO, and it opens up many great opportunities for future collaboration and research. Algorand is an excellent project with exceptional people. Respect

Commercial-Law-1976

From Deirdre Bosa’s interview of Tether CTO Paolo Ardoino on CNBC yesterday (07/08/2022).

chuck_portis

Your quote is not from the CTO of Tether but the CNBC anchor summarizing her interpretation of the CTO's response of what keeps Tether pegged to 1 USD. Incredibly misleading title. Anyways, that's exactly what Tether represents itself to be. Tether is pegged to the dollar because their underlying assets are designed to track the dollar, and are for the most part quite literally invested in dollars (things like T bills and Commercial paper). What's the alternative? It's a collateralized stablecoin. Same as USDC.

eburnside

CZ was CTO at OkCoin when they were caught faking 95% of their volume and the Chinese gov’t cracked down on crypto wash trading. He’s the king of “fake it ‘till you make it”

ElderBlade

>‍Yes GV is a scammer that hangs out with other scammers like Charlotte Hogg, CEO Europe, Visa, Timothy Lane, Deputy Governor, Bank of Canada, and Thomas Hardjono, CTO of Connection Science and Technical Director of Trust- Data Consortium, MIT. This lively session was moderated by Gillian Tett, Chair of the Editorial Board and Editor-at-Large U.S., Financial Times as they discuss how QNT will be deploying 12 CBDCs >https://quant.network/events/event-brief-cbdc-leaders-panel-how-much-global-coordination-are-we-seeing/ This doesn't add any credibility to the project itself. It's just a CEO talking with other prominent people in finance about how they can further centralize fiat creation in central banks, making it fully regulated and surveilled, and increasingly politicized. >Here is literally Oracle interviewing Gilbert 2 months ago about their partnership together >https://www.youtube.com/watch?v=kdioMKiP0Zk This doesn't address the fact that any company can apply for this partnership and that Quant's expertise is listed as None on the oracle website 2 years later. The yt video adds no credibility here since any partner likely gets a chance to do an interview. >I'm also sure Rockefeller Capital does 0 due diligence before making partnerships right? >“I’m delighted to join the Board of Quant Network. This is an exceptional team of experienced professionals in the cybersecurity and blockchain industry.” Guy Dietrich, Managing Director, Rockefeller Capital Guy Dietrich is just a guy from Rockefeller Capital who joined the board. There is no association or partnership with Rockefeller Capital itself. Guy Dietrich now runs his own capital management firm so the association between Quant and Rockefeller Capital is objectively non-existent. There's also no explicit announcement or acknowledgment from any of the Latin American governments that I could find. It's only from quant or LACCHAIN's media accounts. I'm sorry but this a straight up scam. I would get out of this asap.

ADDpillz

‍Gilbert Verdian discussed this pertinent subject along with the policy implications, the impact on consumers and risks with **Charlotte Hogg, CEO Europe, Visa, Timothy Lane, Deputy Governor, Bank of Canada, and Thomas Hardjono, CTO of Connection Science and Technical Director of Trust- Data Consortium, MIT. This lively session was moderated by Gillian Tett, Chair of the Editorial Board and Editor-at-Large U.S., Financial Times.** Below we share highlights and a video from the session. https://quant.network/events/event-brief-cbdc-leaders-panel-how-much-global-coordination-are-we-seeing/ Here is literally Oracle interviewing Gilbert 2 months ago about their partnership together https://www.youtube.com/watch?v=kdioMKiP0Zk Im also sure Rockefeller Capital does 0 due diligence before making partnerships right? “I’m delighted to join the Board of Quant Network. This is an exceptional team of experienced professionals in the cybersecurity and blockchain industry.” Guy Dietrich, Managing Director, Rockefeller Capital https://quant.network/press-releases/guy-dietrich-managing-director-of-rockefeller-capital-joins-quant-networks-board-of-directors/ ‍

coinfeeds-bot

tldr; Despite consumer interest in NFTs plummeting, businesses are still eager to get their foot in the door of the Web3 space at any cost. Ryan Francis, the CTO of one such company, talks about their motivation behind pivoting away from traditional modern system architecture to p2p blockchain solutions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

figec

Not really, no. In terms of encryption, turning on the QR components of most TLS software is, or will be, trivial. Now that NIST has made its decisions, you'll likely see quantum resistance be the default setting in many new releases relatively soon. For example, Microsoft has made it know that it already has the components in its TLS code. OpenSSL was merely waiting on a decision before merging its code. Crypto is particularly vulnerable as any change to the code requires consensus, which is a much higher bar than a CTO at a bank telling their sysadmins "hey, you're working this weekend."

HashMapsData2Value

John Woods just moved from Director of Cardano Architecture at IOHK to CTO at Algorand Foundation.

Melting_Harps

>Who? This is how I know we've reached a form of new adoption pahse; Balaji was CEO of 21inc: a company who was ahead of it's time in vision, but ultimately timed getting into the mining game correctly and got VC backers as he is from the Stanford-SV ilk. They got bough out by Coinbase and did a stint as CTO there as a weird exit where he lost most relevance, but Balaji is an incredibly thoughtful person: perhaps the only one in this circle worth of listening to. The fact that most people here will parrot Saylor garbage day and night (he is the one that promoted these lending scams the most as a tax free stream of income and no one is pointing fingers) and not know who Balaji is a lead indicator of where we are. You'd rather waste your time with these new fake influencer types with no real experience in this space, rather than a early adopter, and ex CEO in this space. I really hope that most listen to what he has to say, he is incredibly insightful and while I do not agree with his business practices, his POV is usually a long and methodical examination of where we are.

Aquabloke

Housing market = crypto market CeFi = CTO's (bundle of risky investments masquerading as safe investment) Government = FTX, at least for now. They already bailed out BlockFi to keep it from going down. Just like 2008 there is loads of leverage buying on assets with big systemic risk (like GBTC and Terra Luna) and because the system is so interconnected there is tonnes of contagion. It is almost exactly the same.

EpicHasAIDS

*The Tether CTO points out, through a twelve-part Twitter thread that can be found below,* ***that the attacks involve a new wave of FUD, troll armies, clowns, and more****.* I'm not sure what more sad, that being used as evidence or some fucking moron is sucking him off while he's doing it.

Pretty-Structure-766

Well, everybody is wrong sometime. And some more than others. I like CTO Larsson, he doesnt predict but react to the market. And he often is contrarian.

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/vpazdp/monthly_optimists_discussion_july_2022/).

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/vpazdp/monthly_optimists_discussion_july_2022/).

Aquabloke

>Securities and Exchange Commission (SEC) in October 2004 relaxed the net capital requirements for five investment banks—Goldman Sachs (NYSE: GS), Merrill Lynch (NYSE: MER), Lehman Brothers, Bear Stearns, and Morgan Stanley (NYSE: MS). That freed them to leverage their initial investments by up to 30 times or even 40 times. >Subprime mortgages were repackaged into CTO's which were classed as low risk investments, even by Moody's Explain to me how these two factors weren't the reason the collapse happened.

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

coinfeeds-bot

tldr; Tether CTO Paolo Ardoino says hedge funds spread rumors that Tether isn’t 100% backed and has 85% exposure to Chinese commercial paper (CP) holdings. CP holdings are unsecured and usually discounted short-term debt issued by businesses and banks to meet liabilities. Tether has never denied requests for redemptions at $1 and has more than 100% backing. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

hooliemongoolie

Doesn't really matter, Tether will never collapse. Did you not see that the Tether CTO has just stated "Tether is Fully Backed, Has ‘Never Failed a Redemption'", so therefore your question is pointless. /s

sleep_deficit

He's also the CTO and he's absolutely correct. It's not scammy to ask for KYC, especially when Changelly has a legal obligation to do. He also recommended using DEX's, which are also available via LL. Instead of shitting all over Ledger, how's about accept that you made the mistake of using a CEX swap service that asked for KYC.

Bitcoin_Banana

This article details what has been alleged between Compass Mining and Dynamics2K. The recent turmoil has resulted in at least one lawsuit filed, and both the CEO and CTO resigning effective immediately.

Bellweirboy

Why does the CTO put this out, not the CFO or CEO? Of a $60+ BILLION company? Have you EVER heard of such a ludicrous situation? Why are the CFO and CEO invisible? Answer: because Tether is a fraud. Worse, it is a fraud backed by international organised crime. The latter is the only global non governmental entity that can provide the ‘just in time’ funding to keep the Tether fraud afloat. When you consider Tether in that light, it all falls into place: the secrecy and arrogance. The bluff and taunting. Exemplified in men like Daniel Sestagalli: the court jester. The shenanigans in Lugano becoming the ‘crypto capital of the world’. If you know the Italian mafia, you know the truth about Lugano.

crimeo

Obviously the day it fails a redemption is the exact same day that the jig is up and is also the day after the tether CTO already fucked off to be a fugitive in Belize with his $10 billion embezzled funds. So yeah, congrats "You haven't as of today skipped town yet" WOW impressive

frog_tree

CTO was arrested for fraud. That was when I pulled my coins out.

LordCambuslang

Even CTO Larsson guy with his Larsson Line and exceptionally well produced videos where he shares wisdom and good humour? He seems like a good guy?

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

coinfeeds-bot

tldr; Tether’s CTO Paolo Ardoino has responded to reports of hedge funds spending hundreds of millions of dollars to bet against stablecoin Tether. He said hedge funds are always spreading FUD about the company and its stablecoins, including arguments that USDT is not 100% backed or that the firm issues tokens from thin air. He added that hedge funds will eventually have to buy back USDT. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

coinfeeds-bot

tldr; Tether CTO Paolo Ardoino said today that hedge funds have been attempting to short the USDT stablecoin. Genesis Global Trading admitted that its hedge fund clients shorted Tether through its services. Tether has successfully redeemed $16 billion of USDT at full value in more than one month. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

nergalelite

it's not that they necessarily "don't give a shit" but that the technical literacy of most people is appallingly low. in the U S A police don't even need to know the laws which they are meant to enforce, they can strech the laws or enforce upon things which might be reasonable to assume are illegal activity is enough for them to abuse and harass whomever they want so long as they can spin the situation right (all the more reason that Miranda Rights being on the chopping block is terrifying) - - - with that said, law enforcement do not even need to be well-versed in information which would keep them from catastrophically failing at building an admissible case, shoot/ticket first and ask questions later, if the pigs don't even learn how to do their offline duties effectively then you cannot honestly expect them to figure out all of the relevant information to effectively traverse and parse blockchain? the CyberSecurity crews working for the 3 letter organizations are the college educated whom, for one reason or another, didn't move into the private sectors (or got poached and coerced to do the work because they got caught while *cough cough* "working in the *very* private sector" and government work was the alternative to jail time [some of the professors in the field are in that category]) i digress not too many go government because it isn't profitable in contrast with becoming a CTO... the few whom are in government squads are *usually* not agents in the traditional sense, some of them are but not many, and while they generally are used to dealing with police whom pass evidence up the chain to them they do not have the time to train the cops. Local LE are so helpless that the lead detective in my hometown used to get technical help from me from time to time when i was like 13 years old (long story) local cops give a shit but not enough to learn new tricks, which is good because this police state would be far more dangerous if the cops were competent

abesWaves

Tether CTO says there has been coordinated attacks by traditional hedge funds trying to short $USDT

dollardumb

Maybe that is your experience, but what holds true for you doesn't make it true for the world. Within my circle of friends, for example, I have a 58 year old CTO, 50 year old system engineer and several 50+ network admins; all are very tech savvy. Ageism is just as ignorant as racism.

CptBeetle

I can respect a well constructed argument against Crypto. I may disagree but I understand. Dismissing Blockchain as trash is a huge flag the guy's a moron. Back in 2016 I had a business partner who was an IT department head at a very large credit reporting agency. I through him got to discuss Blockchain with their CTO. They - multibillion dollar multinational were both quite concerned the technology could render some of their data models redundant and they were also interested in developing on chain themselves as a hedge. Blockchain could also completely revolutionise insurance, health records, traditional finance, authentication, pretty much anything where a central authority provides a service for a premium to query a sensitive dataset.

Mostly_Enthusiastic

>Tether CTO Paolo Ardoino claims that USDT was **practically never de-pegged.** This is far less persuasive than he probably thinks it is lmao

suninabox

> did you at least watch the bloomberg clip? Yes, he just called it "FUD" despite the fact his own CTO admitted they would be margin called at $21,000: >Early last month, MicroStrategy CTO Phong Lee reassured concerned shareholders that the biggest Bitcoin holder among publicly traded companies had nothing to worry about as another Crypto Winter approached. “Essentially, **Bitcoin needs to be cut in half, or around $21,000, before we’d have a margin call,**” Lee told investors on a quarterly earnings call. apparently some people don't realize the difference between a margin call and a liquidation. Regardless, liquidation on one 205 million dollar loan is not the serious threat to MicroStrategy, as I've already said its the interest payments on 2.4 billion dollars worth of debt, which they cannot afford, because they haven't made a profit in 2 years, and are losing money faster now than they were in those 2 years. >They do $500M in revenue a year and you think this company is going to go bankrupt because they bought over 100k of bitcoin? You realize a company has to make profits, not just revenue to stay in business right? They made -535 million dollars net income last year, this year its going to be even worse since they've already made a 1.5 billion dollar loss. >Unless the price goes down to 3,500k then it's game over for him but the FUD around him being in trouble is nothing right now How do you think a company with less than 99 million dollars cash on hand (3 months after borrowing 205 million dollars), can afford to pay 40 million dollars in interest payments a year for the next 4 years when they haven't made a profit in 2 years?

1800smellya

Key word is that the CTO, the Chief Tech officer, *thinks* it is one of the top 12. Doesn’t confirm that it is.

coinfeeds-bot

tldr; Tether (USDT) is set to carry out an audit with a top 12 firm in order to provide more transparency on its reserves. The audit is not with one of the big four auditors owing to concerns over repetitional risk caused by the absence of legislative regulations around stablecoins. Tether CTO Paolo Ardoino is optimistic that the failure of Terra will hasten the development of a regulated framework for stablecoins and their backing *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

ImaginaryBell5484

The Colombian president talks about Bitcoin, his views about the asset, the country's stance on it, and more Bitcoin in Colombia While stressing out that he is not a politician perse, Castro Sierra outlined his connection to the political scene in Colombia. It includes being the CTO of a presidential campaign, Deputy Minister and is now the Advisor to the Presidency.He clarified that his role is entirely related to technology and digital transformation. With various projects related to those two spheres, Castro Sierra outlined some of the progress achieved so far and said the country has become focused on BTC and other virtual currencies

coinfeeds-bot

tldr; Tether will undertake a full audit with a top 12 accounting firm to improve transparency of its USDT reserves. It comes as USDT has steadily lost market share following a series of redemptions in recent weeks. Tether CTO Paolo Ardoino claims that USDT was practically never de-pegged. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

Super-Dream7346

Look up CTO Larsson. His indicator gets trends right 40% of the time and has stop losses below if it’s proved wrong.

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).

BLA4KM4MBA

CTO of Bitcoin here. Bitcoin's DLNA and RDP server is currently misbehaving and out team is working hard to fix it. We'll update you when it gets fixed. Thank you for using Bitcoin!

Cintre

"Attack is now mitigated. AS-CHOOPA is the main ASN identified by cloudflare." Source: [Tether CTO](https://twitter.com/paoloardoino/status/1538178126420770817?s=20&t=Gm8NktrSBNbnjbTbVRvyBA)

CointestAdmin

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/v2re03/monthly_optimists_discussion_june_2022/).