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Re:Federal investigators probe Tether by treyd on Friday October 25, 2024 @06:14PM (#41950356)
> It would be very simple for Tether to just hold $1 for each 1 Tether coin.

It would not be "very simple" for them to do this. No commercial bank lets you walk up to the teller with $1B and ask to deposit it, much less $93B. The financial system doesn't work that way. They have to cycle it through bonds on the repo market, which is what most huge firms do.

Re:Federal investigators probe Tether by a_dabbler on Saturday October 26, 2024 @05:55AM (#41953753)
HSBC has had money laundering scandals with amounts in excess of 1b$
Re:Federal investigators probe Tether by jujube3 on Saturday October 26, 2024 @10:03PM (#41959301)
This seems like annoying pedantry. Holding same-as-cash assets is not rocket science, there are plenty of professionals who could help you with that. On Vanguard you can buy things like T-bills with a few clicks. (I am not suggesting that they're using Vanguard specifically)