5 ms·

A "hedge fund" seems unnecessarily charitable. The majority of their holding is apparently unspecified "commercial paper", which in all likely is near-worthles

A "hedge fund" seems unnecessarily charitable. The majority of their holding is apparently unspecified "commercial paper", which in all likely is near-worthless IOUs from linked entities like Bitfinex.

notwedtm 5y ago
This is the real story.
loulouxiv 5y ago
To be fair it is 45% of their holdings, not a majority. Which is still a very big amount of money, and more than enough to ruin the stability guarantee of USDT