News

With recent news surrounding Genesis today, Tether would like to confirm that it has absolutely no exposure to Genesis or Gemeni Earn. Tether tokens are 100% backed by its reserves, and the assets that are backing the reserves exceed the liabilities. Tether holds a strong, conservative, and liquid portfolio, which includes cash, cash equivalents, and U.S. treasuries. Tether will continue to focus on safeguarding those reserves.

It is important at a time like this to highlight that these reserves have proved tried and true demonstrating consistent resilience during the black swan events that have characterized the market this past year.

Tether is operating business as usual and will continue to do so putting our customers first.

Today, Tether Holdings Limited made available its latest quarterly assurance opinion completed by BDO, a top five-ranked global independent public accounting firm. The attestation re-affirms the accuracy of Tether’s Consolidated Reserves Report (CRR), which breaks down the assets held by the group as of September 30, 2022. The CRR demonstrates the strength of its reserves revealing massive reductions in commercial paper investments to near zero and an overall increase in U.S. Treasury Bills.

Tether's reserves are extremely liquid with the majority of its investments, making up 82% of the total assets, being held in Cash & Cash equivalent and other short-term deposits. It further highlighted a massive reduction in commercial papers with exposure only representing 0.07% of the reserves at the date of the report. Tether has reduced its commercial paper exposure by more than US$24 billion with no losses over the course of 2022 fulfilling both its promise and commitment to the community to do so. The last remaining CPs were fully reimbursed at the beginning of October 2022. U.S. Treasury Bills now also make up a significant portion of Tether's reserves with a direct exposure of over 58%. 

Tether’s CRR indicates, and BDO independent attestation confirms that the group’s consolidated assets exceed its consolidated liabilities.

You can read the latest assurance opinion and the Consolidated Reserves Report: here

The Management of the Company asserts the following as of 30 September 2022:

• The Group’s consolidated total assets amount to at least US$ 68,061,618,458.

• The Group’s consolidated total liabilities amount to US$ 67,811,510,720, of which US$67,805,112,981 relates to digital tokens issued.

• The Group’s consolidated assets exceed its consolidated liabilities.

Paolo Ardoino, Tether CTO, said:

“Tether is proud to present this latest consolidated reserve report which once again amplifies its position as a leader in transparency,” said Paolo Ardoino, CTO of Tether. “This attestation is further evidence of our commitment to our community and ability to deliver on our promises. Tether is a trustworthy organization that communicates that by providing facts and in its actions. With CP at nearly zero, more US T-Bills than ever before, and highly liquid investments, Tether is the most utilized stablecoin on the market. We are also proud to share that the company is profitable and in the last quarter, an additional US$60 million was added to its excess reserves. The outlook for the upcoming quarter is very positive and we look already forward to the next attestation."

Amid rumours of insolvency at crypto exchange FTX and worries about the financial conditions of Alameda Research, we would like to first and foremost, act as a mouthpiece for the entire crypto ecosystem and reiterate that one crisis does not make an industry. 

Regardless of the volatility that this incident may have set off, cryptocurrency and blockchain technology are fostering a revolution in financial inclusion, transforming a broken model that doesn’t work in the modern world. 

Secondly, we would like to confirm that at this time, Tether has absolutely no credit towards FTX or Alameda Research. Tether is completely unexposed to Alameda Research or FTX.

Tether tokens are 100% backed by our reserves, and the assets that are backing the reserves exceed the liabilities. Tether holds a strong, conservative, and liquid portfolio, which includes cash, cash equivalents and U.S. Treasuries. Tether will continue to focus on safeguarding those reserves as it has done for years. 

While the situation with FTX has caught many people by surprise given their reputation and size, FTX is not indicative of the practices of all substantial players in the industry. Tether has been committed to, and has delivered on its commitments, strengthening its balance sheet and improving the quality and liquidity of its collateral wherever possible.

As market conditions change, Tether has adapted and grown with them. We are proud to say that the vast majority of Tether's reserves are now U.S. Treasuries. This puts Tether in a strong position to navigate any volatility that may come.

In some ways, it is ironic that critics have been waiting for years to see Tether fail in the way so many others have. Not only has Tether continued to navigate countless black swan's without issues, but these same critics missed countless massive failures while focusing on Tether. Maybe they will one day ask themselves the question of why Tether continues to serve its users and the communities when few others can.

This morning, due to a data issue that stemmed from CoinGecko’s API connection with a select few exchanges, the Tether peg appeared to have dropped below $1. Tether did not depeg. The price discrepancy of USD₮ existed there and there alone while on Binance, Bitfinex, and Coinbase it was trading within 10bps from parity. The data issue has already been resolved by the Coingecko team.

Time and time again we find ourselves defending against irrational thinking and Tether FUD when the simple fact of the matter is that many do not understand simple market mechanisms and the way Tether works. 

During periods of market volatility, the trading price for USD₮ that is quoted on exchanges may fluctuate. This happens because there is more demand for liquidity than exists on that exchange's order books and has nothing to do with Tether's ability to hold its peg nor the value or makeup of its reserves. While this was NOT the case this morning, industry critics and skeptics alike have done themselves an injustice by remaining uninformed and jumping to conclusions.

Tether has almost $70 billion dollars of collateral which it can redeem USD₮ against. No exchange’s order book has anything remotely resembling that amount of liquidity. Ultimately, USD₮ maintains its peg because of Tether’s redemption facility for USD₮ and the collateral behind it, not because the price of USD₮ generally trades at 1$ on exchanges. In fact, USD₮ generally trades at $1 on exchanges because investors know Tether’s redemption facility is reliable. 

Tether has never turned down a redemption requisition for USD₮. Many would do well to remember that during countless black swan events Tether not only maintained its peg but honored every redemption requested. 

This year alone, the Tether was able to fulfill redemptions for 10% of its outstanding liabilities within 48 hrs. This is unheard of - no bank in the world has processed the withdrawal of 10% of its outstanding liabilities within a day. Furthermore, Tether fulfilled withdrawals for $20 billion within 30 days which was 25% of reserves. Withdrawal requests for far less than this have resulted in some of the largest bank runs in history and yet Tether was able to do so effortlessly.

Trust is built over years, but can be lost in moments. It's easy to wonder who else could fail if large and trusted players suddenly go under. Tether will continue to dispel fears and speak to the concerns of the community. We will continue to be here by your side, fighting for the potential contained with a decentralized monetary system.

Tether continues to lead the industry in both transparency and security, never wavering and providing a safe haven for all.

When you say digital gold people immediately think of Bitcoin, and for good reason! Bitcoin has fundamentally transformed the way we store value and transact over the internet. 

However, Tether Gold:XAUt is another approach to digital gold; physical gold, represented by XAUt tokens. Tether launched XAUt to make physical gold more compatible with the needs and advantages of our digital world.

Tether Gold, is not in competition with Bitcoin in being the best digital gold, but it's actually in competition with the Dollar to be the best stablecoin.

XAUt represents a return to the gold standard as it allows users to easily store, transact, and save in gold. This is further enhanced by the ability to trade it digitally, even against Bitcoin.

Each XAUt token represents one fine troy ounce of a London Good Delivery bar. XAUt tokens can be transferred and traded freely after purchase dramatically improving the ability of individuals and institutions to freely transact in gold.

XAUt tokens provide a more robust claim to physical gold than gold futures because each XAUt is associated with a specific, unique, gold bar.

Why Gold?

In an increasingly digital world, it's easy to forget why gold has been an attractive investment for most of human history.

The gold standard had many benefits that contemporary economics has overlooked. One major benefit was that by constraining the supply of money, people were able to save money without it losing value.

Today, cash must immediately be converted into assets (stocks, bonds, real estate, etc) which all carry their own risks.

XAUt allows users to easily convert their savings into gold via XAUt tokens. This allows effective saving in gold, as during the gold standard.

It’s important to recognize that almost all central banks and many countries hold significant amounts of gold in their sovereign reserves. They own gold to prepare for a time when the global financial system decides to switch to a neutral reserve asset, instead of a reserve asset issued by a specific country.

Even if you (and we) believe that Bitcoin will eventually become the world’s primary neutral reserve asset, it's pragmatic to expect that gold will still play a key role.

If the world switches to a neutral reserve asset, gold will be a prime beneficiary alongside Bitcoin in this increasingly likely scenario.

XAUt is Gold Made Easy

Even if we agree that gold has a role in a portfolio, how do we overcome its challenges? Gold is very difficult to store, verify, and transact with due to its physical nature.

XAUt is a digital token backed by physical gold, and as such it inherits all of the monetary properties of blockchain-based assets.

XAUt can be stored by the individual in any digital or hardware wallet they use to store ERC-20 tokens. This means that users can store their own gold!

XAUt also allows a user to easily transact with their gold. Value in gold can be sent anywhere in the world with the click of a button by transferring XAUt tokens. Unlike gold, users can send fractions of a XAUt token which means they can transact any amount of value from their gold holdings.

Similarly, users can convert Bitcoin to XAUt, and XAUt to Bitcoin with a few clicks of a button.

One of the largest challenges behind owning a gold bar or coin is that you can’t ever spend or sell a piece of it. XAUt removes this challenge by making gold as divisible as any other digital asset.

Finally, XAUt is highly portable, unlike physical gold. XAUt tokens can be carried in your pocket, anywhere you need to go. People have historically held gold as a way to escape politically unstable countries, but while the gold may have empowered them to protect their savings it is almost impossible to leave a country with a meaningful amount of gold.

Imagine trying to flee a country with 10 gold bars in your luggage! It will be confiscated or stolen. XAUt empowers users around the world to easily convert their savings into gold and take it with them anywhere they go.

Using Gold in the Digital Economy

As the global economy became increasingly digital, it became significantly harder for gold to have a meaningful role because it wasn't compatible with modern financial systems. In a world where all value is settled digitally, the best the world could do was create flawed gold derivatives.

XAUt is a native blockchain asset that can plug into any smart contract, any exchange, any wallet, and any future innovations yet to come!

This means that unlike a gold bar in a vault, XAUt can potentially be used to generate yield or as collateral to borrow against. De-Fi applications make it easy to earn yield on tokens because they can easily function as collateral.

As De-Fi applications continue to grow, more use cases will emerge that could only be accessed by a digital, tokenized version of gold. These services make gold more attractive as an asset, and XAUt provides users with that access.

A Digital Gold Rush is Inevitable

The world is facing the highest levels of structural inflation it has faced in decades. While no one can know for certain what the futures hold, many of the smartest economic minds in the world expect that inflation is here to stay.

Gold has historically been the standard for an asset that provides protection against inflation, and while it now shares that role with Bitcoin, it’s unlikely gold will stop being used any time soon.

The biggest problems gold faced were due to its physical nature, which made it hard to invest in and prevented it from being utilized in the rest of our financial systems.

XAUt turns that entire dynamic on its head! By making gold as easy to own and use as any other digital asset XAUt reinvigorates the appeal of gold as an investment asset in our digital world.

This allows an easy return to a personal gold standard for those users who prefer to save in gold.

As the creator of the other digital gold once said, “You may want to get some, in case it catches on”.

Nearly 2,000 Attendees Flock to First Ever Forum Celebrating and Discussing Financial Freedom and Economic Inclusivity

November 2, 2022 — On October 28-29, Tether Operations Limited (Tether), the company operating the blockchain-enabled platform tether.to that powers the first and most widely used stablecoin, and the Swiss city of Lugano held the first annual Plan ₿ Forum. With an elite line-up of speakers, nearly 2,000 attendees from around the globe, and exciting news announced on-site, the forum was a massive success for the discussion of financial freedom and cryptocurrency adoption.

The event attracted close to 2000 attendees who were present to hear exciting news such as the Republic of El Salvador and the city of Lugano’s signed initiative on economic cooperation; and Tether, Holepunch, and Synonym launching Pear Credit, one of the cornerstone products in a series of peer-to-peer applications by the three companies. After two days of thought provoking panels and discussions, the Plan ₿ forum closed out with a spectacular drone show. 

“It was a joy to host so many wonderful speakers and guests from around the world to our innovative city of Lugano over the past days, and I am thrilled over what the future holds for financial freedom and cryptocurrency adoption worldwide,” said Michele Foletti, Mayor of Lugano. “This weekend, the dream of financial democratisation across the globe took a big step towards reality, and we are reinvigorated to continue the work.”

“Plan ₿ has delivered on another important part of the announcement made on 3 March with a high-level event. We continue to work to make Lugano a world center for Bitcoin adoption and blockchain technology.”

The forum hosted a line-up elite speakers, including Stella Assange, attorney and wife of WikiLeaks founder Julian; Gabriel Shipton, film producer and brother of Julian Assange; Milena Mayorga, current Salvadoran ambassador to the United States; Adam Back, CEO of Blockstream, Nick Szabo, computer scientist; Jameson Lopp, CTO at CASA; Max Keiser and Stacy Herbert, Co-Founders of El Zonte Capital; Peter McCormack, host of What Bitcoin Did Podcast and Chairman of Real Bedford FC; Paolo Ardoino, CTO of Bitfinex/Tether; Samson Mow, Architect of the Bitcoin bond; Arnab Naskar, Co-Founder of STOKR; Fadi Elsalameen, Adjunct Senior Fellow at the Bitcoin Policy Institute, Farida Bemba Nabourema, human rights activist and founder of the “Faure Must Go” movement in Togo, and more.

“To say the first ever Plan ₿ Forum was just successful would be a huge understatement. For the first time, leaders and believers of financial freedom, innovation, and economic inclusivity descended upon the great city of Lugano to exchange ideas and hear from industry leaders and speakers on why the adoption of cryptocurrency is so important, said Paolo Ardoino, CTO of Tether. “I would like to extend a humble thank you to the sponsors, the media partners, the staff and volunteers, the speakers, and the great city of Lugano for everything they have done over the past months and this weekend to make the Plan ₿ Forum a reality. Finally, I want to thank everyone who attended our history-making event in Lugano. I can’t wait to get started planning for next year’s Plan ₿ Forum.”

Over the two days of #LuganoPlan₿ Forum, around 20k CHF worth of transactions were processed in Lugano including over 1000 transactions over #Bitcoin Lightning Network, close to 130 USD₮ transactions and 200 LVGA transactions. As a result of ongoing efforts in the region and the Plan ₿ initiative, there are now nearly 65 merchants throughout Lugano accepting Bitcoin and Tether and 300 merchants accepting LVGA. This marks an important milestone for the city and has demonstrated the utility of Bitcoin for real life transactions. 

SPONSORS 

City of Lugano, Tether, Keet by Holepunch, Polygon, Go Crypto, Quantfury, Ammer Group, LCX, Utrust, Noor Capital, Swiss4Win, Casino Lugano, Quantoz Blockchain Technology, Zebedee, Deep Square, Debifi, Profluent, Bitfinex, HAL Coinshares, Relai, Swiss Bitcoin Pay, Fedi, Jan 3, Pocket, Casa, Fountain, Eli Mobile, Synonym, Holepunch, Luganodes, Blockstream, lipa, Luzerner Kantonalbank, Fly with moov, One Swiss Bank, Galoy, Satoshi Gallery, Le Pedaleur, Thalex, Fulgar Ventures, SIT Immobiliare, Stokr, Bitbox, Leontek, Pulsar, Braiins, EZCAP, Fountain, Swiss Blockchain Federation.

MEDIA PARTNERS 

BTC Times, Cointelegraph, The Cryptonimist, CryptoNews, Be In Crypto, Cointelegraph Italy, Cryptoland and Media TI, Forbes Italia, digitech.news, Gazzetta della Lombardia and Gazzetta di Milano.  

The spreading of false information is the biggest threat to the cryptocurrency industry that currently exists.  Bloomberg has proven themselves time and time again to be desperate for attention in an industry that they just do not understand. This most recent attempt to tarnish the reputation of Tether, one of the industry’s most significant contributors is yet another example of this behavior. This is Bloomberg recycling old news that isn’t even factual.

Bloomberg first reported on the DOJ's “investigation” in November of 2018 and in the years after. In the time since those stories have been published - stories which have been despicable attempts at crying wolf - Tether has in fact, been collaborating with law enforcement around the world. Many of the events they have fixated on in this story are not only inaccurate but are also occurrences that have happened with our sister company, Bitfinex. This represents yet another example of their incompetent journalism and inability to seperate fact from falsity.

It is business as usual at Tether, as we continue to lead the industry in transparency, as the largest and most agile stablecoin on the market. Sensationalized journalism and poor reporting will not stop that and any claims otherwise are blatant lies.

Tether routinely has open dialogue with law enforcement agencies, including the U.S. Department of Justice, as part of our commitment to cooperation, transparency, and accountability. We are proud of our role as industry leaders in promoting cooperation between industry and government authorities in the U.S. and around the world. We remain committed to our customers and the industry-leading technology and transparency that has led to our growth.

Furthermore, Tether has only enhanced its cooperation with the DOJ by helping the department in real time in connection with some of the biggest cybercrime and national security cases in the country. In fact, Tether executives have had no interactions with the DOJ in connection with any investigation for well over a year and the DOJ does not appear to be actively investigating Tether. Tether and Bitfinex have actually been identified as victims in the Fowler case that Bloomberg references.

As opposed to many in the industry, Tether has always empowered freedom of speech, access to information and combat censorship around the world. The launch of products like Keet enabled many users to be in control of their own data and communications channels which are  fundamental  to improving the human condition and breaking free from technology monopolies. Tether aims to create a contrast to the extreme centralization of news. It is simply a shame that supposedly reliable media such as Bloomberg find difficulties in understanding a technology that is revolutionizing the world. It is also a shame that their lack of accuracy, knowledge and curiosity have such consequences on believers in the industry. It is because of this we will see their outdated style of reporting and news coverage surpassed by new and innovative decentralized technologies. Tether will always be determined to lead the stablecoin market through the next wave of adoption and it will do so proudly regardless of critics and rumors.

Lugano, Switzerland, October 28, 2022— Pear Credit, a peer-to-peer credit system that allows issuers to create peer-to-peer credit “tokens” was announced today. Founded by Tether, Holepunch, and Synonym, Pear Credit promises a pure peer-to-peer protocol that gives credit issuers a faster, cheaper, and more scalable token format, without relying on blockchains or any global shared-state networks.

Pear Credit is one of the cornerstone products in a series of peer-to-peer applications developed by Tether, Holepunch, and Synonym that will put control of the economy back in the hands of the people. Unlike traditional credit systems, Pear Credit is a transparent accounting system that leverages peer-to-peer technology to reach high scalability and resilience, perfect for big enterprises and one-person companies. Pear Credit will be the perfect tool for companies that want to issue gift cards, reward points, stablecoins, and any form of credit imaginable.

“We think Pear Credit represents an easy-to-use, scalable module and flexible solution for all the companies in the world that issue credit; gift cards, rewards tokens, travel miles and stablecoins are all possible.,” said Paolo Ardoino, CTO of Tether. “The value of a product like this is so great, that many avenues of its potential are yet to be explored.”

“Peer-to-peer applications will be essential in helping the transition from Web 2, ”Mathias Buus, CEO of Holepunch Inc. “Rather than relying on centralized entities who operate through a centralized infrastructure, the way that most of today’s traditional financial applications work, Pear Credit is fully transparent, scalable, decentralized and open.”

“Pear Credit will be a strict upgrade to existing credit systems and token formats.,” said John Carvalho of Synonym. “By combining the Lightning-Network-styled speed with cutting-edge P2P networked storage systems, Pear Credit will unlock a new era of digital society and the economy. There will be Bitcoin and credit, obsoleting all else.”

The Salvadoran Ambassador Milena Mayorga announced today that El Salvador and the city of Lugano have signed a Memorandum of Understanding on Economic Cooperation. The announcement was made during the first day of Tether’s inaugural Plan ₿ forum in Lugano, Switzerland.

Expected goals of the partnership include enhancing cooperation in education and research between El Salvador and Lugano, supporting initiatives to drive the adoption of Bitcoin and other cryptocurrencies across their respective regions, and fostering the exchange of students and talents between El Salvador and Lugano.

“We want to congratulate both the city of Lugano and El Salvador for this exciting news. Today, the dream of financial democratisation took a big step towards reality with Lugano and El Salvador entering into an official partnership of economic inclusivity and financial freedom,” said Paolo Ardoino, CTO of Tether. “We commend the pioneers leading Lugano and El Salvador for launching this initiative, which promises to foster the exchange of best practices and ideas regarding the power of cryptocurrency, and we at Tether stand ready to help however we can.”

Here's what Mayor Michele Foletti of Lugano and Ambassador Milena Mayorga said about the news

“Lugano is a land of innovation and opportunity, and today’s historic announcement regarding our partnership with the great country of El Salvador is great news for believers of financial freedom and the power of cryptocurrency,” said Michele Foletti, Mayor of Lugano. “This joint endeavor will benefit the citizens of both Lugano and El Salvador as we continue to work towards a more inclusive global economy.”

“I am so pleased to have been able to announce this history-making partnership between the innovative city of Lugano and my beloved home country of El Salvador. We share a love for innovation and bold ideas, and this initiative will be a game-changer in the exchange of ideas and best practices in economic freedom,” said Milena Mayorga, Salvadoran Ambassador to the United States. “My fellow Salvadorans and I are very excited by the promise of Bitcoin, and I look forward to seeing how this initiative will help increase access to economic security and economic freedom for all, one of the main goals of President Nayib Bukele's government."

Tether and the city of Lugano announced the Plan ₿ initiative in March of this year, with technology company Polygon joining as a key infrastructure partner for Tether. With the goal of making Lugano a center of excellence for blockchain adoption in Europe, Lugano has adopted Bitcoin, USD₮, and LGVA, the city’s stablecoin, as legal tender.

In April of this year, Tether announced a relief fund with El Salvador dedicated to helping Salvadoran families impacted by gang violence. Tether has sponsored a number of initiatives to drive access to cryptocurrency for people across El Salvador, including supporting the country’s forthcoming Adopting Bitcoin conference. Since adopting Bitcoin as legal tender, El Salvador’s tourism has seen an increase of 30%.

Tether Operations Limited (“Tether”), the company operating the blockchain-enabled platform tether.to that powers the largest stablecoin by market capitalization of over US$68 billion, is pleased to announce that SmartPay plans to launch tether tokens (“USD₮”) in over 24,000 ATMs across Brazil. 

According to a study from the Instituto Locomotiva, carried out in January 2021, Brazil still has 34 million unbanked adults – that is, people who do not have a bank account or do not use it frequently. Smartpay’s integration of USD₮ into its product will provide millions of people with the opportunity and access to the digital currency ecosystem and new financial revolution. 

“The difficulties and limitations imposed by inflation and a less-than-inclusive financial system has excluded many of Brazil’s citizens from being able to participate in the country's growing economy,” said Paolo Ardoino, CTO of Tether,  “Adding tether tokens to ATMs across Brazil provides the opportunity to include more people in the financial system. This will bring major changes not only to the payments industry but to the entire Brazilian financial ecosystem.”

Tether tokens are currently one of the most used cryptocurrencies in the region. Recent data shows that USD₮  is one of the tokens most used in the country when it comes to value moved. More than $1.4 billion was moved using USD₮ across 79,836 operations in August, with an average amount of almost $18,000 per transaction.

With access to SmartPay, users can select the best cryptocurrency for their desired use case, including tether tokens like USD₮. They will also be able to send and receive tether tokens anywhere in the world, whenever they want and withdraw Reais in Brazil. 

“After we integrated tether tokens with the Brazilian Payment System called PiX, we integrated with TecBan which is the largest ATM company provider in Brazil. Before we used to say where you can pay with PiX,  you can pay with tether tokens - now where you see Banco24Horas you can convert tether tokens into Reais”, said Rocelo Lopes, CEO of SmartPay.

SmartPay intends to make tether tokens available in ATMs as of November 3rd. 

Important Note

This press release is not an offer to sell or the solicitation of an offer to buy USD₮. Tether Limited and Tether International Limited will only sell or redeem USD₮ pursuant to the terms of service available (as of the date of this press release) at https://tether.to/en/legal. 

Forward-Looking Statements

Certain statements in this press release may be forward looking in nature. The words “believe,” “expect,” “estimate,” “could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,” “project” and similar expressions, among others, generally identify “forward-looking statements,” which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. None of SmartPay nor any other person (including Tether) is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

We are pleased with the Court’s thorough and well-reasoned decision to remove Roche Freedman LLP as interim class counsel. Roche Freedman’s repeated attempts to trivialize and separate itself from Kyle Roche’s despicable statements describing unethical conduct were not the least bit persuasive.

It is unfortunate that our industry is riddled with cases like these that sensationalize the technology that so many of us are working hard to build.

This perception of a wild west is more fantastical than it is real, and it distracts from all of the innovation and progress that's being made day in and day out by some of the best developers in the world.