$1M bounty for details on Tether’s backing

Re:$1M bounty for details on Tether’s backing by aeternum on Tuesday October 19, 2021 @06:21PM (#28924505)

They claim to hold assets with values equivalent to 1 USD / Tether. Different than holding the USD directly.

They provide a more detailed breakdown here: https://tether.to/wp-content/uploads/2021/08/tether_assuranc...

About half in commercial paper and CODs. A quarter in t-bills. 2B in unspecified "digital tokens".

[ Parent | on HN ]

Re:$1M bounty for details on Tether’s backing by jfrunyon on Tuesday October 19, 2021 @08:13PM (#28925330)

Yes, now that they've been caught claiming to hold 1 USD per Tether without doing so, they claim it's only stuff worth (in their estimation!) 1 USD per Tether. And still refuse to provide any evidence that they are doing so.

Please stop defending them.

[ Parent | on HN ]

Re:$1M bounty for details on Tether’s backing by aeternum on Tuesday October 19, 2021 @09:49PM (#28925905)

I generally agree, not sure why anyone would choose to use Tether when their are alternatives like USDC. However I still think it is important to properly represent Tether's current claims.

[ Parent | on HN ]

Re:$1M bounty for details on Tether’s backing by coolspot on Tuesday October 19, 2021 @11:34PM (#28926449)

Drug/arms/human trafficking operations can have easier time cashing hundreds of millions via shady Tether than US-based audited and KYCed USDC.

[ Parent | on HN ]