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@Sovereign @cjd @DrBtc @jb
i looked in to the reason:
Tether has frozen two Tron-based wallets holding about $344 million in USDT, marking one of its largest enforcement moves to date. One wallet contained roughly $212.9 million, while the other held $131.3 million. The action was carried out in coordination with the U.S. Office of Foreign Assets Control (OFAC) and other law enforcement agencies as part of ongoing investigations into illicit financial activity. The move reflects Tether’s increasing role in supporting global regulators by blacklisting suspicious funds and tightening oversight of stablecoin flows across blockchain networks.
Okay?...... so since they can do this type of thing then in my opinion tether might as well be a CBDC.. fuck that
is there any coin that is pegged to the dollar that doesn't have a smart contract that allows them to have centralized control like this? or would it be impossible to keep the price pegged if they didn't have central control over the coin?..
i looked in to the reason:
Tether has frozen two Tron-based wallets holding about $344 million in USDT, marking one of its largest enforcement moves to date. One wallet contained roughly $212.9 million, while the other held $131.3 million. The action was carried out in coordination with the U.S. Office of Foreign Assets Control (OFAC) and other law enforcement agencies as part of ongoing investigations into illicit financial activity. The move reflects Tether’s increasing role in supporting global regulators by blacklisting suspicious funds and tightening oversight of stablecoin flows across blockchain networks.
Okay?...... so since they can do this type of thing then in my opinion tether might as well be a CBDC.. fuck that
is there any coin that is pegged to the dollar that doesn't have a smart contract that allows them to have centralized control like this? or would it be impossible to keep the price pegged if they didn't have central control over the coin?..
Yes that was Terra/luna but back in 2022 it collapsed when the market melted down. It had no physical money backing it up but was an algorithm system to maintain the peg. It entered a death spiral and about $50b got wiped out. So now we're stuck with centralized dollar pegs.
It's a pretty interesting concept for a stable coin but they just dont hold up with panic starts. Do kwon got 15 years for it but I guess hes lucky to be alive after burning down that much money.
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