4 ms·
>But during the same period, total issued Tethers increased by almost $5.4 billion — going from $4.6B to $10B >The implication was shocking: there weren’t near
by dylkil 6y ago
>But during the same period, total issued Tethers increased by almost $5.4 billion — going from $4.6B to $10B
>The implication was shocking: there weren’t nearly enough dollars in all the domestic banks in the Bahamas to >back the Tethers that were floating around in the crypto market.
Doesn't match up with whats shown here[1], Bahamas banks are holding 110bn in customer deposits.
[1]https://stats.bis.org/statx/srs/tseries/LBS_D_PUB/Q:S:L:A:USD:F:5J:A:BS:A:5J:N?t=A5&c=BS&m=S&p=20202&x=L_POSITION.2.CL_L_POSITION&o=s:line,z:1 https://stats.bis.org/statx/srs/tseries/LBS_D_PUB/Q:S:L:A:US...
- EliRivers 6y agoUpvoted for coming armed with an actual fact related to the article, disagreeing with the author's premise based on some actual evidence. Might be right, might be wrong, but it's something other than just more opinion. Wish I could upvote more than once.
- piva00 6y agoI'd like to point out for you to refrain commenting in this style, it reeks of reddit-ism. Also, another comment [1] clarified why the original commenter's analysis might be flawed. [1] https://news.ycombinator.com/item?id=25789949 https://news.ycombinator.com/item?id=25789949
- acoustic 6y agoThose numbers are for all bank offices located in the Bahamas, most of which are foreign bank branches. The numbers in the row "By type of bank - Domestic banks" [1] appear consistent with the article. [1] https://stats.bis.org/statx/srs/table/A5?c=BS&m=S&p=20202&o=s:line,z:1 https://stats.bis.org/statx/srs/table/A5?c=BS&m=S&p=20202&o=...
- deleted 6y ago[deleted]
- cryptoanonymous 6y agoAuthor here; this is the correct answer. The larger number refers to all banks. Deltec is known to be a domestic bank, so we can use the smaller number to get tighter uncertainty bounds on its currency flows.