The biggest traders on these exchanges told me they routinely bought and sold hundreds of millions of tethers. Even so, many had their own conspiracy theories. Tthe currency, it's controlled by the chinese mafia. The c i a uses it to move money. The government has allowed it to get huge so it can track the criminals who use it. It could be way shakier, and i wouldn't care.
This week's Cover Story for Bloomberg Businessweek:
"Stablecoin Tether Grows Into Crypto World’s $69 Billion Mystery"
Read by Bloomberg's Mark Leydorf.
A wild search for the U.S. dollars supposedly backing the stablecoin at the center of the global cryptocurrency trade—and in the crosshairs of U.S. regulators and prosecutors.
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