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A comment on Federal investigators probe Tether. Parent comment

Re:Federal investigators probe Tether by JumpCrisscross on Friday October 25, 2024 @03:07PM (#41948559)
> they hold excess reserves in Bitcoin

We had precisely the same amount of information about FTX's Bitcoins as we do for Tether, for what it's worth.

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Re:Federal investigators probe Tether by alchemist1e9 on Friday October 25, 2024 @04:01PM (#41949081)
bc1qjasf9z3h7w3jspkhtgatgpyvvzgpa2wwd2lr0eh5tx44reyn2k7sfc27a4

Isn’t that the public Tether bitcoin address with over 75K coins?

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Re:Federal investigators probe Tether by JumpCrisscross on Friday October 25, 2024 @05:27PM (#41949960)
That is a wallet with a lot of Bitcoins in it. We don't know to what degree it's controlled by Tether. We don't know the degree to which it's otherwise encumbered. If I recall correctly, FTX also pointed to wallets with Bitcoins in them from time to time.

To be clear, I am not saying Tether is committing fraud. Just that to the extent there have been investigations, they came up short, and that them being short is not even among the main risks to their existence.

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