> *Did Citibank claim that its value was one-to-one backed with U.S. dollar rese... | Hacker News

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		jpmattia on May 16, 2022 \| parent \| context \| favorite \| on: $3B in Bitcoin was sold in a last-ditch attempt to... > Did Citibank claim that its value was one-to-one backed with U.S. dollar reserves until they were caught not doing so? If not, they're probably not a relevant comparison to Tether. I'm not getting what you're saying here: They should make good on their initial message from several years ago? They should now keep all assets in dollars and not earn interest?

bpt3 on May 16, 2022 [–]

> They should make good on their initial message from several years ago?

Yes.

> They should now keep all assets in dollars and not earn interest?

Since that was how they initially generated interest in the asset, yes.

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