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Careful, commercial paper is most definitely not the same as cash or treasury bills. It could be AAA, it could be BBB- Wasn't there a story about an independen
by namdnay 5y ago
Careful, commercial paper is most definitely not the same as cash or treasury bills. It could be AAA, it could be BBB-
Wasn't there a story about an independent audit that was cancelled or something? I remember the weird assertion that they couldn't disclose whose commercial paper they were holding, which I've never heard before
- JumpCrisscross 5y ago> Careful, commercial paper is most definitely not the same as cash or treasury bills. It could be AAA, it could be BBB- It could be an IOU from Binance.
- jpmattia 5y ago> It could be AAA, it could be BBB- The ratings were in their August report.
- runeks 5y agoThe ratings are in the report linked by OP. Vast majority A-2 or better (S&P).
- ryan_lane 5y agoAnd many are self-determined and put into (S&P) terms, because they aren't otherwise rated. Tether has outright lied numerous times in the past, and have been caught doing so. Why would you believe their attestation when they won't allow audits?
- kwere 5y agoBecause trust Is the base of a society. Why wouldnt You trust a bunch of whitcollar excon? Have Faith!