No, the price is 30K USDT, which has very dubious backing, part of which is BTC.... | Hacker News

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		martin8412 on July 15, 2023 \| parent \| context \| favorite \| on: Binance lays off over 1k Employees No, the price is 30K USDT, which has very dubious backing, part of which is BTC. They've never been audited and thus nothing points to them being solvent. It's believed that a lot of the backing is in Chinese real estate papers which took quite a big fall with Evergrandes' troubles.

RestlessMind on July 15, 2023 [–]

> the price is 30K USDT

You can literally sell one Bitcoin on Coinbase right now and get >30K USD back (minus commission). No idea how USDT is relevant here.

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