There are a lot of questions surrounding Tether, the third largest crypto by market cap. With the collapse of UST, people want to be sure that there is liquid backing dollar for dollar behind USDT. Is the world’s biggest stablecoin too big to fail?
Today we welcome the Chief Technology Officer of Tether, Paolo Ardoino, to the show to ask these tough questions. We also discuss FTX, audits and the future of the cryptos.
We’re a fairly stable podcast with unstable podcast hosts. Hopefully our guest can bring some stability to the show on episode #655 of the Bad Crypto Podcast.
Full Show Notes at: http://badco.in/655
TIME STAMPS
- 00:00 - Intro
- 03:27 - Tell us about some of your background, Paolo.
- 06:00 - Explain how you’re the CEO of Bitfinex and CTO of Tether
- 08:35 - Let’s get to the basic, birds-eye definition of Tether and how it works as a stablecoin.
12:45 - How do you ensure Tether never goes down and is a supported asset? - 16:00 - Tether is the number 3 in crypto marketcap. The audit of Tether is still pending release. News coverage of the release is missing. Why is the audit taking so long to be released?
- 20:35 - So you understand why it looks questionable to people because this is not the first time that has been something questionable has happened.
32:00 - What happens to Tether if the US Dollar loses its dominance as a global currency reserve? - 35:00 - Tether Gold is an alternative to fiat stablecoins.
- 36:12 - We are looking for audits on USDT; where is the gold?
- 38:45 - Why is there such a discrepancy between the Tether Gold and the market price of gold right now?
- 42:00 - Closing remarks
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Do your own due diligence and research. Joel Comm and Travis Wright are NOT FINANCIAL ADVISORS. We are sharing our journey with you as we learn more about this crazy little thing called cryptocurrency. We make NO RECOMMENDATIONS. Don't take anything we say as gospel. Do not come to our homes with pitchforks because you lost money by listening to us.
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