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>Especially with billions of tether issued without any fiat

Do you have any proof of this? Tether is over collateralized by $164M.

https://wallet.tether.to/transparency





Neither of these links support your claim. The first link says there was a period years ago where it wasn't true, but nothing about the current state. Your second link just shows that people and businesses prefer Tether over USD. It's also surprising that the author did not know that bitcoin is a very common half of a trading pair.




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