Tether

[tdtwedt]

Why the Fed is getting worried about the most boring thing in crypto

Unlike crypto critics who attack bitcoin and other cryptocurrencies for being too volatile, the Federal Reserve is increasingly sounding the alarm over investigating the coins that set out to be far more boring: stablecoins.

https://finance.yahoo.com/news/why-the- ... 1gbd0noiom

[tdtwedt]

Stablecoin insurance firm Bridge Mutual to protect against possible Tether depegging

Now one company intends to provide discretionary coverage for investors against that scenario — and Tether itself is backing the play.

Bridge Mutual aims to mitigate the risk of loss of funds resulting from hacked or exploited smart contracts, exchange hacks or theft, price crashes in stablecoins, and other digital asset vulnerabilities.

https://cointelegraph.com/news/stableco ... -depegging

[tdtwedt]

Is Tether The Crypto Black Swan? (Part 4 - Final Discussion)



https://www.youtube.com/watch?v=SOpzMyGZK3g

[tdtwedt]

The Fidelity Stablecoin that does what so-called ‘Stablecoin’ issuers claim is impossible!

We hear a lot from so-called ‘Stablecoin’ Issuers that they can’t do audits, because so-called ‘Stablecoins’ are such a new and innovative concept.

We also hear from these issuers that the breakdown of their reserves must be a total secret.

So why aren’t “blockchain” based so-called “Stablecoins” just copying the SPAXX, which collects hundreds of millions of dollars in fees before passing the remainder to SPAXX ‘hodlers’.

Good question.

And what are you getting by holding Tether and letting them keep all of the interest for themselves?

https://bitfinexed.medium.com/the-fidel ... 148252a689

[tdtwedt]

What's the Deal with Tether USDT?



https://www.youtube.com/watch?v=s6aPhI0N0es

[tdtwedt]

More academic research on the Tether fraud, this time with Binance helping facilitate the Tether fraud.

The Role of Binance in Bitcoin Volatility Transmission

https://www.resistance.money/research/b ... ission.pdf

https://twitter.com/Bitfinexed

[tdtwedt]

Why tether, the world’s third-biggest cryptocurrency, has got economists worried

Some investors believe a loss of confidence in tether could be crypto’s “black swan,” an unpredictable event that would severely impact the market.

https://www.cnbc.com/2021/07/07/tether- ... -know.html

[SilverDoge]

Government (SEC) regulations seem to be around the corner for stablecoins. This definitely adds legitimacy and reduces the likelihood of a black swan Tether rug-pull situation. We'll see what happens from here:

https://www.zerohedge.com/crypto/secs-gensler-wins-battle-regulators-oversee-stablecoins

[tdtwedt]

Democratic lawmaker unveils bill that would define boundaries for stablecoin market

New Jersey Rep. Josh Gottheimer unveiled an early draft of legislation aimed at placing definitions around stablecoins.

A draft released by Gottheimer’s office proposes to designate certain digital currencies as “qualified” stablecoins if they can be redeemed on a one-for-one basis for U.S. dollars.

https://www.cnbc.com/2022/02/15/crypto- ... -bill.html

[tdtwedt]

The world’s biggest stablecoin has dropped below its $1 peg

Tether sank to as low as 98 cents Thursday morning, according to data from CoinGecko.

It’s meant to be pegged one-to-one to the U.S. dollar.

Tether’s decline came after terraUSD, a different stablecoin, plummeted below 30 cents Wednesday.

https://www.cnbc.com/2022/05/12/tether- ... 1-peg.html

[tdtwedt]

https://twitter.com/ClarityToast/status ... 1397810176

[tdtwedt]

George Noble Questions Tether's CTO Paolo Ardoino On Why They Won't Complete an Audit



https://www.youtube.com/watch?v=kp5kv7aENxw

[tdtwedt]

New York Supreme Court has REJECTED Tether’s petition to block the public from receiving documents detailing the composition of Tether’s reserves over the past few years.

https://twitter.com/CryptoWhale/status/ ... 0855887874

[tdtwedt]

Tether claims its stablecoin is now partially backed by non-U.S. government bonds

Tether started releasing quarterly financials after a 2021 settlement with the New York attorney general, which accused the company of lying about its stablecoin’s backing (Tether admitted no wrongdoing).

The documents are signed by MHA Cayman, a little-known accountancy firm based in the Cayman Islands.

Some economists and investors aren’t convinced by Tether’s attestations and are calling for a full audit.

https://www.cnbc.com/2022/05/19/tether- ... bonds.html

[tdtwedt]

Senator Warren's Exchange on Michael Barr's Nomination Hearing



https://www.youtube.com/watch?v=uTkDlbsqzTc

[tdtwedt]

Tether’s accountant waves red flag

The language used by Tether’s accountant in the latest quarterly attestation report suggests it’s worried about the future existence of the stablecoin.

Tether has since undergone a sharp contraction since the May 9/10 collapse of the Terra stablecoin, with assets in Tether dropping from $83bn on May 11 to $73bn on May 21.

https://newmoneyreview.com/index.php/20 ... -red-flag/

[tdtwedt]

Tether withdrawals top $10 billion as regulators raise alarm about stablecoins

Regulators and economists have long questioned whether Tether has enough assets in its reserves to justify its stablecoin’s purported peg to the dollar.

The company previously claimed tether was backed one-to-one by dollars in a bank account, but subsequently revealed it was using other assets including commercial paper — short-term corporate debt — and even digital tokens as collateral after a settlement with the New York attorney general.

https://www.cnbc.com/2022/05/23/tether- ... llion.html

[tdtwedt]

IMF head says stablecoins not backed by assets are a ‘pyramid’

Stablecoins that are not backed by assets to support them are a “pyramid,” Kristalina Georgieva, the head of the International Monetary Fund said.

https://www.cnbc.com/2022/05/23/imf-hea ... t-ust.html

[tdtwedt]

Ken Griffin of Citadel talks Tether

https://twitter.com/Bitfinexed/status/1 ... 1136683009

[tdtwedt]

Coindesk files SUR-REPLY in Tether FOIL case



https://twitter.com/Bitfinexed/status/1 ... 6935390214