Tether Backed by 3.87% Cash

Re:Tether Backed by 3.87% Cash by otoburb on Thursday May 13, 2021 @11:53AM (#27143540)

It would be best for the HN community if submitters stick to the HN guidelines and not blatantly editorialize the article headline.

I’m bearish on Tether too, but the 76% backing in cash and cash equivalents is a far different picture compared to only focusing on the 3-4% cash.

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Re:Tether Backed by 3.87% Cash by grey-area on Thursday May 13, 2021 @12:34PM (#27144177)

I'm afraid I don't trust their unspecified 'cash equivalents' which are mostly not cash or anything close. So I think the title is justified and not in any way a distortion of their position. Here is some more detail on the breakdown and this unspecified 'commercial paper':

https://amycastor.com/2021/05/13/tethers-first-breakdown-of-...

Personally if they don't break down what those assets are, I wouldn't trust it's not just 'cryptocurrency assets' rebranded as cash.

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Re:Tether Backed by 3.87% Cash by tluyben2 on Thursday May 13, 2021 @12:11PM (#27143823)

Yeah, this is far less bad than I thought it would be. I did indeed expect a few %s to be actually backed by something of value. So please change the title.

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Re:Tether Backed by 3.87% Cash by creepto on Thursday May 13, 2021 @05:03PM (#27147442)

These are IOU's, as good as money.

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