UST didn't even claim to be fully backed, whereas Gemini's third-party auditing accounting firm attests to GUSD being fully backed, under the scrutiny of the New York State Department Of Financial Services.
I wasn't claiming they're same. Was just wondering what the thoughts are on another stablecoin which claims to be fully backed by USD and how valid those claims actually are. Not sure why I'm getting downvoted.
I didn't assume that you were claiming that, and I didn't downvote you.
If I had to guess, people here are pretty sensitive to any crypto project being mentioned in the comments out of the blue, so that may be part of the reason for downvotes.
UST didn't even claim to be fully backed, whereas Gemini's third-party auditing accounting firm attests to GUSD being fully backed, under the scrutiny of the New York State Department Of Financial Services.