Hi HODLers, On this lazy Saturday morning, I just wanted to hammer in another *crypto basics*. USDT also called Tether is **not** a decentralized stablecoins. A recent news shows it once again [Tether Freezes $160M of USDT Stablecoin on Ethereum Blockchain](https://www.coindesk.com/markets/2022/01/13/tether-freezes-160m-of-usdt-stablecoin-on-ethereum-blockchain/) ![image.png](https://images.hive.blog/DQmWbPAkvXmHHDXwCRuW9xhqDyTTco4How7JKgbgdrcuTqE/image.png) In addition to the many reports and audits showing that it is not entirely backed by 1USD (also to be fair it is not so far off), my main concerns have always been: * It is controlled by one entity and therefore can *freeze* someone's account/assets * It is not very liked by authority so its centralized feature could back fire as governments can go after the Tether foundation/company. If you want a centralized stablecoin backed by 1$ go with USDC, at least the US Government gave them a greenlight to operate. ![image.png](https://images.hive.blog/DQmVsxUBNSEttko3J3d7LDXL9BWGYLXLXAs798Z1EPjeUdf/image.png) #### Tether does it again and freezes $160mn without any disclosed "reason" * Tether has **blacklisted 563 addresses on the Ethereum blockchain since November 2017**, according to the Bloxy block explorer. * Tether has bee working with authorities to supervise *suspicious accounts*. It would be great if Tether would explain what they mean by suspicious... * On January, 13th, Tether has **frozen three addresses on the Ethereum blockchain holding $160m USDt upon a request from law enforcement.** As of today, there has been no information communicated by Tether concerning the reason of this *freeze*. ![image.png](https://images.hive.blog/DQmVsxUBNSEttko3J3d7LDXL9BWGYLXLXAs798Z1EPjeUdf/image.png) #### Latest Analysis * [Politicians are now competing to attract crypto talent!](https://leofinance.io/@vlemon/politicians-are-now-competing-to-attract-crypto-talent) * [DeFi Bribes and the so called "Curve Wars"](https://leofinance.io/@vlemon/defi-bribes-and-the-so-called-curve-wars) * [Forget Axie, 2022 will be Gods Unchained's year!](https://leofinance.io/@vlemon/forget-axie-2022-will-be-gods-unchained-s-year) * [Shilling HIVE and LEO on Torum.io has been rewarding !](https://leofinance.io/@vlemon/shilling-hive-and-leo-on-torum-io-has-been-rewarding) Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@vlemon/usdt-is-not-a-decentralized-stablecoin-another-usd160mn-frozen)
author | vlemon |
---|---|
permlink | usdt-is-not-a-decentralized-stablecoin-another-usd160mn-frozen |
category | hive-167922 |
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created | 2022-01-15 19:20:18 |
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yefet | 0 | 16,831,988,757 | 75% | ||
penguinpablo | 0 | 406,536,406,980 | 16% | ||
ancolie | 0 | 9,835,502,587 | 8.75% | ||
walterjay | 0 | 182,618,991,936 | 12.5% | ||
zedikaredirect | 0 | 7,077,549,812 | 90% | ||
teammo | 0 | 111,507,950,614 | 100% | ||
l337m45732 | 0 | 5,875,371,496 | 20% | ||
lugaxker | 0 | 639,855,560 | 18.56% | ||
mes | 0 | 266,877,720,301 | 50% | ||
alphacore | 0 | 7,338,834,389 | 3.23% | ||
ew-and-patterns | 0 | 26,196,827,225 | 10% | ||
wargof | 0 | 1,198,872,473 | 65% | ||
bambukah | 0 | 1,775,605,695 | 10% | ||
zonguin | 0 | 1,567,569,735 | 12.5% | ||
francosteemvotes | 0 | 5,788,897,450 | 25% | ||
jeanlucsr | 0 | 1,246,207,419 | 2% | ||
saltiberra | 0 | 619,036,848 | 5% | ||
evildido | 0 | 1,451,104,662 | 12.5% | ||
vlemon | 0 | 386,598,246,335 | 100% | ||
aidefr | 0 | 5,042,252,276 | 18.75% | ||
drax | 0 | 181,392,616,652 | 40% | ||
pataty69 | 0 | 3,151,031,577 | 10% | ||
baloox | 0 | 1,371,364,991 | 3.75% | ||
karinxxl | 0 | 17,008,122,340 | 50% | ||
dbddv01 | 0 | 1,180,749,937 | 12.5% | ||
dashroom | 0 | 1,653,549,988 | 80% | ||
not-a-bird | 0 | 5,042,239,480 | 20% | ||
chekohler | 0 | 16,833,276,045 | 10% | ||
tpkidkai | 0 | 1,075,223,317 | 10% | ||
lpv | 0 | 1,596,491,983 | 4.68% | ||
mikitaly | 0 | 7,555,090,574 | 80% | ||
statorcrime | 0 | 828,047,444 | 12.5% | ||
not-a-gamer | 0 | 528,527,214 | 40% | ||
culgin | 0 | 16,244,540,288 | 20% | ||
dragibusss | 0 | 1,422,082,060 | 50% | ||
gribouille | 0 | 838,279,766 | 18.75% | ||
itharagaian | 0 | 693,346,186 | 12.5% | ||
oredebby | 0 | 988,474,760 | 50% | ||
onepercentbetter | 0 | 20,304,268,814 | 16% | ||
paragism | 0 | 734,411,071 | 50% | ||
flaxz | 0 | 3,382,397,155 | 6% | ||
mrchef111 | 0 | 93,448,299,971 | 50% | ||
knowhow92 | 0 | 7,157,930,456 | 25% | ||
blainjones | 0 | 4,420,295,987 | 1.5% | ||
imcore | 0 | 1,024,526,772 | 10% | ||
rollandthomas | 0 | 2,423,663,366 | 2% | ||
eii | 0 | 708,023,556 | 1% | ||
myfreebtc | 0 | 48,778,280,861 | 50% | ||
merlion | 0 | 821,346,949 | 16% | ||
agathusia | 0 | 729,125,309 | 100% | ||
sbi6 | 0 | 28,173,305,559 | 14.01% | ||
revueh | 0 | 1,072,509,302 | 25% | ||
cleanplanet | 0 | 55,038,110,225 | 6.25% | ||
cryptoyzzy | 0 | 291,717,425,397 | 100% | ||
voxmortis | 0 | 37,756,990,463 | 20% | ||
steemaction | 0 | 582,543,010 | 16% | ||
munhenhos | 0 | 993,743,020 | 10% | ||
pboulet | 0 | 21,504,986,738 | 25% | ||
stefano.massari | 0 | 70,102,968,264 | 69% | ||
michealb | 0 | 211,087,515,254 | 100% | ||
solarphasing | 0 | 514,147,869 | 12.5% | ||
idiosyncratic1 | 0 | 25,082,288,831 | 100% | ||
ctime | 0 | 14,666,476,628 | 2.5% | ||
director.rar | 0 | 126,457,540 | 100% | ||
hungrybear | 0 | 696,091,220 | 16% | ||
dknkyz | 0 | 11,870,503,348 | 40% | ||
thelogicaldude | 0 | 9,804,040,611 | 10% | ||
maxsieg | 0 | 9,160,127,525 | 100% | ||
krunkypuram | 0 | 1,848,936,931 | 75% | ||
centurions90 | 0 | 3,217,497,974 | 100% | ||
oxoskva | 0 | 2,275,583,389 | 100% | ||
thisisawesome | 0 | 75,188,957,608 | 15% | ||
abh12345.leo | 0 | 2,191,239,662 | 75% | ||
leo.voter | 0 | 7,232,500,044,218 | 10% | ||
ph1102.ctp | 0 | 2,338,414,979 | 20% | ||
revise.leo | 0 | 3,757,663,700 | 100% | ||
elianaicgomes | 0 | 5,024,194,873 | 5% | ||
ianballantine | 0 | 623,190,454 | 50% | ||
dexy50 | 0 | 1,464,340,327 | 100% | ||
leomaniacsgr | 0 | 868,531,330 | 50% | ||
davidlionfish | 0 | 7,151,085,562 | 33% | ||
leofinance | 0 | 62,528,525,661 | 10% | ||
laruche | 0 | 1,097,284,924,482 | 25% | ||
ykretz | 0 | 1,025,342,827 | 2.5% | ||
jskitty | 0 | 195,739,467,377 | 100% | ||
nulledgh0st | 0 | 43,816,871,651 | 100% | ||
mynima | 0 | 872,198,943 | 75% | ||
f0x-society | 0 | 1,316,634,748 | 50% | ||
hodlcommunity | 0 | 2,056,857,638,552 | 100% | ||
authentika | 0 | 2,634,744,522 | 25% | ||
hive-143869 | 0 | 27,167,037,424 | 12.5% | ||
beehivetrader | 0 | 785,374,893 | 5% | ||
miloshpro | 0 | 1,460,330,977 | 100% | ||
dotnb | 0 | 697,480,624 | 50% | ||
buildahouse | 0 | 749,735,140 | 12.5% | ||
deadswitch | 0 | 3,848,820,672 | 100% | ||
spirall | 0 | 398,106,480 | 50% | ||
myupvote2u | 0 | 1,540,231,924 | 50% | ||
ctpsb | 0 | 355,529,652,506 | 20% | ||
dknkyz.leo | 0 | 808,892,173 | 50% | ||
drax.leo | 0 | 2,586,228,011 | 20% | ||
jfang003 | 0 | 16,092,277,662 | 20% | ||
netaterra.leo | 0 | 826,616,593 | 30% | ||
gualteramarelo | 0 | 1,005,687,263 | 1% | ||
leo.tokens | 0 | 870,724,227 | 10% | ||
resiliencia.pal | 0 | 1,941,296,914 | 100% | ||
bala-ctp | 0 | 688,894,944 | 20% | ||
meowcurator | 0 | 299,459,155 | 25% | ||
cbridges573 | 0 | 520,480,583 | 1.5% | ||
retaliatorr | 0 | 2,482,514,052 | 100% | ||
luckyali.ctp | 0 | 511,896,511 | 20% | ||
meesterleo | 0 | 1,290,678,364 | 75% | ||
mein-senf-dazu | 0 | 27,165,029,780 | 50% | ||
stdd | 0 | 7,668,245,163 | 100% | ||
jocieprosza.leo | 0 | 4,267,203,276 | 100% | ||
poorchard01 | 0 | 546,525,937 | 100% | ||
saboin.leo | 0 | 51,283,848 | 14% |
I doubt anyone is surprised Tether is doing all of this but I guess this is another reason why it's better to support algorithmic stable coins instead because we know exactly what it does and it can't ban people easily. Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-vlemon-2sdhjb)
author | jfang003 |
---|---|
permlink | re-vlemon-2sdhjb |
category | hive-167922 |
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created | 2022-01-16 08:21:06 |
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Indeed, it seems some actors in the space still like to massively quote/print ether which I do not understand. I try to stay away as far as possible. Posted using [LeoFinance Mobile](https://leofinance.io)
author | vlemon |
---|---|
permlink | indeed-it-seems-some-actors-i-2e5f6ijjwlc8yp8aw307ej6jollyh7cj |
category | hive-167922 |
json_metadata | {"app":"LeoFinance/ios/0.4.5","format":"markdown"} |
created | 2022-01-16 14:40:18 |
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root_title | "USDT is NOT a decentralized StableCoin ! Another $160mn frozen" |
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jfang003 | 0 | 6,181,558,358 | 8% |
Is there a stable decentrelized coon which is used as much as usdt?
author | mein-senf-dazu |
---|---|
permlink | re-vlemon-2022115t215838986z |
category | hive-167922 |
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created | 2022-01-15 20:58:39 |
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root_title | "USDT is NOT a decentralized StableCoin ! Another $160mn frozen" |
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UST / DAI / MIM are probably higher or quite close in their respective ecosystem
author | vlemon |
---|---|
permlink | re-mein-senf-dazu-2022115t161914347z |
category | hive-167922 |
json_metadata | {"tags":["hive-167922"],"app":"ecency/3.0.23-mobile","format":"markdown+html"} |
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I did not know these things about Theter, thanks for the information reported in this post
author | stefano.massari |
---|---|
permlink | re-vlemon-2022116t1331310z |
category | hive-167922 |
json_metadata | {"tags":["hive-167922"],"app":"ecency/3.0.23-mobile","format":"markdown+html"} |
created | 2022-01-16 00:33:00 |
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root_title | "USDT is NOT a decentralized StableCoin ! Another $160mn frozen" |
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You are more than welcome my dear Stefano Posted using [LeoFinance Mobile](https://leofinance.io)
author | vlemon |
---|---|
permlink | you-are-more-than-welcome-my-d-n7nkhb7bsf7a8etqxaodscxl5w6k5bsf |
category | hive-167922 |
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