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If I'm reading the settlement correctly, Bitfinex will now have even less USD to back Tethers, since they'll have to wire an $18,500,000 transfer to the State o
by cbhl 6y ago
If I'm reading the settlement correctly, Bitfinex will now have even less USD to back Tethers, since they'll have to wire an $18,500,000 transfer to the State of New York.
- ardy42 6y agoBut if there are 34 billion tethers, $18 million is like a rounding error.
- charcircuit 6y agoTether is over collateralized. If they paid that $18.5M from their collateral it would still be over collateralized by $145.9M https://wallet.tether.to/transparency https://wallet.tether.to/transparency
- freeAgent 6y agoTether claim to be over collateralized. This settlement contains numerous instances of Tether lying about their collateral situation. Why trust them without evidence at this point? They’re required to submit a report on their specific reserve holdings within 90 days. We’ll see then.