CNBC TechCheck+ chats with Tether's CTO and general counsel — 7/21/21

What Hacker News said

Critical toomuchtodo · 2021-07 · on “Central Bank Digital Currency – US Senate Testimony of Dr. Neha Narula [pdf]”

That doesn't mean USD wasn't up to the task, that means Tether is used to evade regulation and oversight. Exchanges could've held US treasuries in institutional accounts if the fiat was actually there, but you can't easily fake holding UST or similar instruments. From Matt Levine's Money Stuff article yesterday (Tether heading): > Here is the website [1] for the JPMorgan Prime Money Market Fund. If you click on the tab labeled “portfolio,” you can see what the fund owns. The first item alphabetically is $50 million face amount of asset-backed commercial paper issued by Alpine Securitization Corp. and maturing on Oct. 12. Its CUSIP — its official security identifier — is 02089XMG9. There are

Critical phpnode · 2021-07 · on “Tether executives said to face criminal probe into bank fraud”

Any rational person can see that Tether poses an existential risk to the crypto economy - but the market is highly irrational. There was an interview with tether's CTO and GC the other day that was an absolute car crash[0] and should be sounding deafening warning bells for anyone invested in crypto, but instead we see the BTC price shoot up by 15% in the days since it aired. It is utter madness. [0] [this video]

Critical TheAlchemist · 2022-11 · on “FTX used corporate funds to purchase employee homes, new filing shows”

They are under scrutiny, and here are some facts: - they lied about the reserves and weren't backed at 100% - they did fraudulent attestations wiring money for the 'snapshot' of accounts for the attestation then moving it back to owners (from Bitfinex exchange if I remember - which is the same people - see a pattern here ?) - held money in their personal accounts the above were proven without doubt by the NY AG. - promised an audit for several years (it's always just a few months away) - publish attestations that are obviously false. some red flags - in the first one, they claimed to have so much money in commercial paper that would put them in top 10 players - yet, among desks trading those

Critical mister_tee · 2023-03 · on “Tether USDT is trading at $1.01”

Tether claims they have completely exited their position in commercial paper and are currently over 70% in US T-Bills. [LINK] Disclaimer that I'm a bit of a Tether skeptic, but if I'm wrong and they either were in, or have been able to get to, a fully-collateralized position of mostly treasuries and are earning 5% interest while paying 0% on USDT, good for them and good for regular people who won't be left holding bags. I'll always consider Tether in the context of their July 2021 CNBC interview with Deirdre Bosa. Timestamps are relative to the copy at [this video] I don't think they've said who the commercial paper counterparties were and claim it was an important trade secret. Traders in the US