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If 74% is what Tether is claiming, then the reality is probably less.
by elyobo 7y ago
If 74% is what Tether is claiming, then the reality is probably less.
- village-idiot 7y agoThey’re claiming 74% “cash and cash like securities”, which is one hell of a caveat. We know that they’ve “loaned” 900m to Bitfinex, a company run by the same people as Tether. My bet is that some of those “cash like securities” are unrecoverable “loans”.
- Scoundreller 7y agoI was reading through Apple’s 10K, and they define cash like securities as being highly liquid and having a maturity in less than 3 months.
- askafriend 7y agoApple shouldn't have to suffer the horrible fate of being even implied in the same conversation as Tether/Bitfinix as far as reporting standards and corporate trust go.
- gpresot 7y agoCash-like (or cash-equivalent) securities is a common expression in accounting and indicates highly liquid securities that can be liquidated in short term (less than 3 months usually). "These securities have a low-risk, low-return profile and include U.S. government Treasury bills, bank certificates of deposit, bankers' acceptances, corporate commercial paper and other money market instruments" (from Investopedia).
- village-idiot 7y agoI know, I just think they would lie about it. It’s not like they have had any qualms about lying continually.