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When like 70-80% of Tether's holdings are in U.S. treasuries, I'd say it's very misleading to claim no association to any govt. Due to this dependence - along with the mentioned ability to freeze and surveil activity - the practical difference between USDT and a CBDC lies only in what the U.S. government has yet to decide to exercise. (the same would go for any BDC that's also beholding to the demands of a govt).

I agree, however, that it's not good to inaccurately label anything - even if it's only inaccurate on a technicality... Someone needs to coin another term for government-cucked digital currency to cover them all.

Guy Swann 1y ago

Nothing about what I said made any suggestion one way or another about "association with a govt." It's literally a USD stablecoin. Why would anyone claim that it's not US related?

That said from the company standpoint specifically, they are scared shitless about doing any business with any US company or being attached in any way to US markets. Like very paranoid about it. So if you are saying they are some US govt project then I'd argue that doesn't really add up. I think the US thinks Tether is undermining their power and control, even though from the standpoint of someone who understands, it actually is a significant support for the US dollar and treasuries. I simply think the political system is only just now waking up to that and trying to figure out how to take advantage of that.

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Judge Hardcase 1y ago

"They aren't associated with any govt." isn't a suggestion one way or another? I must be misreading that somehow.

Regardless, per your response, we appear to actually be on the same page

Cheers!

Guy Swann 1y ago

I mean that they haven’t issued a govt currency and aren’t a govt program or institution. I didn’t mean that they don’t buy a particular govt’s treasuries, as that’s obviously false.