They were linked to illegal gambling and scams. Dont post abt things u know nothing abt
What im Saying is usdt is safer than usdc but ofc not bulletproof. There are ways to mitigate risks
They still have the explicit ability in the contract to block addresses for any reason they see fit
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Exactly, also USDT is a money printer, look at Coffezillas video I linked for more insight
Its not that simple. They wont block without checking. Circle did a mass remove with minimal check
@SWAPD frozen Even if a cold wallet is being used?
Why mitigate risk if you can just use cryptos that are completely same from removals/blocks?
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You’re putting a lot of trust in a third party entity to “do the right thing” regardless, it’s why decentralized stables exist…
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They block address so a cold wallet won’t save you
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That’s nuts so if you have funds and your address is blocked you can’t use the funds?
Yes. With stablecoins, you don’t control them, even on a Ledger (because they are not decentralized like BTC/ETH)
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Do not talk in topics you are green in please
The third point, “Voluntary preventive measures” means that Tether sometimes blocks funds on its own initiative, even when it’s not strictly required by law enforcement or sanctions.
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WOW that’s nuts.
what is best to mitigate this? you said oyu have a scanner for black listed?
Still risky, even if less risk. I want zero risk. If SWAPD will suffer without stable coins, so be it. Because the worst case scenario is NO SWAPD, vs. being annoyed to use BTC/ETH.
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@SWAPD what about DAI? It’s a decentralized frequently used stable coin
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if you must use a stable, use a decentralized one and only swap to offramp, or use an offramp that supports them
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How do you check if you are on the remove list?
They are publicly available
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DAI has proven to be resilient in the face of deleveraging events too and held the peg well, with $200mm+ in daily volume
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well, DAI rebranded to USDS