Tether, USDT, is the largest stablecoin. Rather than make that comply with all the recently passed garbage crypto legislation, the company is launching a new one, USAT.
Apparently U.S. dollar innovation requires imitation. Stablecoins are not the real thing, no matter how hard the flimflammer's sell. It's an intermediary, a pass through entity which collects interest from Treasuries and fees from users.
The new CEO for USAT is former Executive Director of the White House Crypto Council under Trump II, the digital Caligula. Bo levered his seven months in that role into his new job.
Surely, a number of Cantor Fitzgerald related SPACs are lining up to offer a USAT corporate treasury. Trump ushered in the era where everyone can be a Fed Chair and invent money from nothing, even a 29 year former public servant who set up his own millionaire future in a record short time.
That's the kind of ethics one expects from Trump II, who ensures his family and his buddies make out like bandits courtesy of the levers of government. It's grotesque on so many levels.
Trump subsumes all he touches. His hangers on slink behind him snatching up the spoils. There's a new CryptoBro, one grown from a short White House stay. Bo Hines made quite a snatch.
