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A comment on $7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k. Parent comment

Re:$7.6B in crypto long positions liquidated in 1 hour as Bi... by raducu on Sunday April 18, 2021 @12:25PM (#26853817)
Did anything changed about tether having to reveal anything about their reserves?

This has been going on for years, and it seemed that nobody was able to force them to prove anything.

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Re:$7.6B in crypto long positions liquidated in 1 hour as Bi... by aent on Sunday April 18, 2021 @12:30PM (#26853873)
It's part of their recent NY settlement:

https://www.bloomberg.com/news/articles/2021-02-23/crypto-ex...

>New York officials, who originally began investigating Bitfinex in 2019, will receive quarterly reports on composition of Tether’s reserves for the next two years. The companies will end all trading activity with New Yorkers.

That starts in about a month

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Re:$7.6B in crypto long positions liquidated in 1 hour as Bi... by rasz on Sunday April 18, 2021 @12:55PM (#26854115)
Didnt they already had dates set for publishing Audit results in January? and then without revealing anything they obtain a settlement? Show you the scale of money and what it can do. At $Trillions being printed per month they can buy anything.
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Re:$7.6B in crypto long positions liquidated in 1 hour as Bi... by raducu on Sunday April 18, 2021 @12:37PM (#26853939)
Thanks!

There's nothing in the article that suggests that tether will be closed if they are not backed up 100%, so I guess it won't make any real change even if they are not.

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