The problem arises in the fact that if they can freeze these funds, they can freeze yours.
This makes holding USDT completely useless.
You're taking all the risk, with absolutely none of the potential reward.
You may as well be holding cash in a USD denominated bank account.
At least then there is no risk that Tether Inc is lying to you about how collateralised the coin actually is
Tip: USDT is NOT backed 1:1 in the way you think.
Algorithmic stablecoins such as Hive Backed Dollars and Terra's UST, are the only way forward.
The market will catch up soon enough.
Posted Using LeoFinance Beta
We need to keep pushing things forward with HBD. I agree that algorithmic stablecoins are the future and it is important to make them as usable as possible.
Posted Using LeoFinance Beta