<story><title>Legal expert says Tether and Binance Coin are likely picks for SEC lawsuit</title><url>https://cryptoslate.com/legal-expert-says-tether-and-binance-coin-bnb-are-likely-picks-for-sec-lawsuit/</url></story><parent_chain></parent_chain><comment><author>_fat_santa</author><text>Saw a really good YT video[1] on Tether yesterday. Breaks down all the sketchiness. But the problem he mentions in the video is a problem with pretty much all stablecoins, in order to function you must have the proper reserves before generating a token, but inevatably greed kicks in and you start thinking what if you minted coins without the backing. USD pegged stablecoins are basically money printing machines in the hands of whoever runs the project.&lt;p&gt;[1]: &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.youtube.com&amp;#x2F;watch?v=-whuXHSL1Pg&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.youtube.com&amp;#x2F;watch?v=-whuXHSL1Pg&lt;/a&gt;</text></comment>
<story><title>Legal expert says Tether and Binance Coin are likely picks for SEC lawsuit</title><url>https://cryptoslate.com/legal-expert-says-tether-and-binance-coin-bnb-are-likely-picks-for-sec-lawsuit/</url></story><parent_chain></parent_chain><comment><author>paulgb</author><text>A YouTuber called Coffeezilla had an entertaining video yesterday that I think is one of the most comprehensive (and entertaining) takes on this. It&amp;#x27;s pretty damning when you look at all the evidence together.&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.youtube.com&amp;#x2F;watch?v=-whuXHSL1Pg&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.youtube.com&amp;#x2F;watch?v=-whuXHSL1Pg&lt;/a&gt;&lt;p&gt;Even in the off-chance that people with a track record of lying about being backed have suddenly gone legitimate, it&amp;#x27;s a pretty big indictment of the system that it could grow to the size it did &lt;i&gt;while looking incredibly like a scam&lt;/i&gt;.</text></comment>