Tether (USDT) created $1,500,000,000 Worth of USDT Out of Thin Air in the Last 24h: Nothing of it is backed by actual Cash Perspective
In the last 24 hours Tether, the creator of USDT, has minted $1,500,000,000 worth of USDT out of thin air.
Nowhere it is documented where the money which was just created comes from and where it actually went.
Before 2019 Tether claimed 100% of its reserves would be backed by actual cash
Suddenly in April of 2019 Tether claimed only 74% of Tether would be backed by "cash and cash equivalents"
A pie chart (yes, this is how they want to proof their reserves) released by Tether in 2021 revealed that only 2,9% would be backed by cash
How much of it is actually backed of the $1,500,000,000 they somehow created in less than 24 hours? You can probably guess