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A comment on The Tether Ponzi Scheme. Parent comment

Re:The Tether Ponzi Scheme by 1001101 on Wednesday May 19, 2021 @06:04PM (#27215123)
Coindesk has a breakdown [1]. Treasury bills make up 2.94% of their cash/cash equivalent balances, which in turn make up 75.85% of their balance sheet. It's mostly in commercial paper. As the Coindesk article points out, it's hard to say what the credit rating or liquidity of the commercial paper is.

Compare to the capital ratios of your average bank, though.

[1] https://www.coindesk.com/tether-first-reserve-composition-re...

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Re:The Tether Ponzi Scheme by lifty on Wednesday May 19, 2021 @06:12PM (#27215207)
This mini-thread is about USDC.
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Re:The Tether Ponzi Scheme by makomk on Wednesday May 19, 2021 @06:29PM (#27215352)
From what I can tell, unlike Tether USDC haven't publicly disclosed what proportion of their reserves are backed by treasury bills and what proportion are stuff like commercial paper - just that they're backed with a mixture of both. On the other hand, they do claim that everything backing their token has very good credit ratings and I don't think Tether do.
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Re:The Tether Ponzi Scheme by kmonsen on Wednesday May 19, 2021 @06:45PM (#27215475)
Bank customers money are backed (up to 250k for each account) by the US treasury though which is a pretty significant difference. The US can print itself out of any bank run, at least in the short term.
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