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I've always found them shady yet they survive. Any new developments 🧐
Unlikely
They don't open their books to regulators in the US because they're not based in the US, but there's no real evidence of wrongdoing anywhere.
Essentially, their business is to hold funds in a money market account backing a token 1/1 that you can redeem for cash. $USDT
I would be very surprised if $USDT blew up.
$USDD on the other hand feels like a ponzi