News for hackers. Stuff that matters.

A comment on Tether reserves backed by 2.9% cash. Parent comment

Re:Tether reserves backed by 2.9% cash by Clewza313 on Friday May 14, 2021 @07:26AM (#27153069)
Tether released a statement of assets. They said nothing at all about liabilities.
[ Parent | on HN ]
Re:Tether reserves backed by 2.9% cash by tambourineman88 on Friday May 14, 2021 @11:17AM (#27155174)
No idea if this is worth the paper it is written on but Stuart Hoegner posted this on Twitter:

https://tether.to/wp-content/uploads/2021/04/tether-assuranc...

[ Parent | on HN ]
Re:Tether reserves backed by 2.9% cash by DebtDeflation on Friday May 14, 2021 @04:42PM (#27159467)
>"Our opinion is limited solely to the CRR and the corresponding consolidated total assets and consolidated total liabilities as of 31 March 2021"

IOW, "They have the total amount of CP, loans, and bonds they say they have. Whether or not the issuers of those IOUs is Bitfinex or some shell company connected to the owners of Tether we have no opinion on"

[ Parent | on HN ]
Re:Tether reserves backed by 2.9% cash by user-the-name on Sunday May 16, 2021 @03:36PM (#27176347)
Tether has repeatedly lied about their reserves. There is zero reason to take any claim they make at face value.
[ Parent | on HN ]