Tether Says Stablecoin Is Only Backed 74% by Cash, Securities

Re:Tether Says Stablecoin Is Only Backed 74% by Cash, Securi... by bb88 on Tuesday April 30, 2019 @07:25PM (#19793032)

Only if you ask for permission from Tether, first. If you have power to seize the bank accounts, however...

https://www.investopedia.com/terms/t/tether-usdt.asp

"On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released. Sadly, the New York Attorney General’s office seems to be intent on undermining those efforts to the detriment of our customers."

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Re:Tether Says Stablecoin Is Only Backed 74% by Cash, Securi... by dzdt on Tuesday April 30, 2019 @11:04PM (#19794182)

"We have been informed that" is lawyerspeak that has as an implication of "we don't actually believe the following and it almost certainly isn't true, but what we were told is..."

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Re:Tether Says Stablecoin Is Only Backed 74% by Cash, Securi... by jcranmer on Wednesday May 01, 2019 @12:32AM (#19794548)

And "seized and safeguarded" itself sounds suspiciously like a polite way of saying "our accounts are frozen on suspicion of financial regulations (and/or money laundering), and we hope to be able to successfully defend ourselves in court."

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