Review on Tether by Jeff Shaw
the largest stable coin but not the best
Tether is the largest market cap stable coin and has been the largest onramp into other crypto assets. Tether is widely available, has high liquidity, but has had some issues in the past year with claims that stable coin is not 100% backed and had a recent loss of funds at one of their sponsor backs creating a loss of the 1:1 dollar peg for some time. It is concerning that this stable coin has centralized ownership in a company that is not fully transparent on banking and accounting practices.
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Pros
- high liquidity
- large circulation
- many exchanges support token
Cons
- centralized
- company does not guarantee supply is 100% backed
- loss of funds in the past couple years
- accounting methodology not fully transparent
