Crypto analyst Deso has accused Tether of using a risky financial loop instead of Real USD.
Tether’s headquarters have moved to El Salvador, claiming $150 billion in USDT control, due to co-founder Spark’s further concerns about transparency.
X’s virus posting by Crypto analyst countryside raised a serious question about the stability of Tether (USDT)– The world’s largest stub coin. Deso’s claim is that Tether is not fully backed up in real US dollars, instead Borrowed money and a dangerous financial looppotentially puts the entire crypto market at risk.
Analysts warn of the Ponzie-like structure behind the tether
Tether, designed to maintain 1:1 peg and US dollarwidely used in crypto transactions and debt. But Deso claims that There may be a lack of real dollar backing. His analysis shows that companies use borrowed funds to buy USDT, convert them into crypto like Bitcoin, and sell them in dollars.
Key player he named: Abraxas, Cumberland, and Wintermute. These companies are said to be dependent High crypto prices and constant demand Maintain the loop.
When prices drop or demand dry out, the system collapses and leaves borrowed money unpaid. Ponzi scheme.
Tether’s Salvador movement raises eyebrows
In another post, Deso highlighted that Tether recently moved its headquarters to El Salvador.a country without an extradition treaty with the United States
He also flagged the co-founder of that tether, Giancarlo Devasiniat least I control it $150 billion in USDTlike a blockchain tracking tool Arkham Intelligence.
Deso is urging journalists, investigators and the wider crypto community to scrutinise Tether’s reserves and operating practices in closer detail.