Tether Burns Half a Billion USDT Coins in an Act of Redemption | NewsBTC
In their recent blog post, Tether, the parent company of a USDT stablecoin, announced a token burn that will permanently eliminate 500 million units. In a recent blog post, Tether announced a token burn that will permanently eliminate 500 million units. Yesterday, they said it had been completed. Why?
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That means they didn't have 500 million true dollars backing USDT. Think about it. I know what the whitepaper said, but that was created by the same people who "say" they have the backing.
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That why we heard a lot of criticizing about this coin.
I think this article appeared on Dlike too often, 4 times , I think.
You are a Dlike junky and read every post on this DAPP. ;)
But why 500 million units are eliminate?
I believe is because the value when below the US dollar!