In the Eye of the Inflation Hurricane – Ep 855
The Peter Schiff Show Podcast
00:00
The Next Major Blowup of Asset-Backed Cryptocurrencies
Tether is a cryptocurrency backed by fake money, US dollars, fiat. I don't think there's one US dollar on deposit for every one tether in circulation. A run on tether could ultimately be much worse for the crypto market than the bankruptcy of FTX as bad as that is. If tether ends up being a fraud too, then it could be worse because nobody believed that Sam Bankman was a fraud.
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