On: CFTC Orders Tether and Bitfinex to Pay Fines Total...

[AlexandrB]

> Tether is a scam, but no worse than the US dollar and normal banking fractional reserves...

So tether insures up to $100,000 for every depositor?

[mikeyouse → AlexandrB]

That's actually out of date.. a decade ago, the US FDIC upped the limit to $250k per depositor.

[christopherwxyz → AlexandrB]

The U.S. government insures its own currency using its own currency or security.

Tether can’t do that without hurting the stability guarantee.

[bpodgursky → christopherwxyz]

Tether can absolutely insure its own currency by printing more Tether as needed -- it's identical to what the US government will do to protect bank deposits, by printing more dollars!