3/ [..] large entities have gained centralized control over the vast majority of operations in the cryptocurrency world, such as centralized exchanges that handle the majority of transactions and stable coin issuers that can control the supply of money like a central bank.
1/ The Tether ( $USDT ) controversy and its relation to #Bitcoin ( $BTC ). Join me in exploring why #tether is crypto's dirty little secret, and why #2021 might be the worst year yet (for crypto).
2/ I will use this thread to collect even future events / developments on #tether, so you might want to come back to it later on.
3/ For the uninitiated, #tether is a stablecoin supposedly "backed" 1:1 by real $, yet it has been surrounded by controversy for years over whether or not that is the case, considering the companies behind #tether and Bitfinex never presented an actual audit of their reserves.