4 ms·

I am completely ignorant here. I read an article not that long ago where a journalist was trying to figure out where Tether kept its money (if there was any).

I am completely ignorant here. I read an article not that long ago where a journalist was trying to figure out where Tether kept its money (if there was any). The main characters seem to be distributed in different parts of the world and were not inclined to be interviewed. This corporate entity seems to be highly convoluted, which means its hard to know what jurisdiction they fall under. My question: How is Tether compelled to pay this? What happens if they do not? Can they just terminate whatever US subsidieres there may be and keep operating the same? Do they need a corporate component in the US, if so why?

samizdis 5y ago
> I read an article not that long ago where a journalist was trying to figure out where Tether kept its money (if there was any). I think that you might be referring to this one [1] from Bloomberg on Oct 7: Anyone Seen Tether’s Billions? It generated plenty of discussion on HN [2]. I mention it here because I enjoyed the article and the style in which it was written, if you don't mind a little snide humour in discussing a potentially serious problem. (The article was also archived [3].) Bloomberg commentator Matt Levine discussed the article in his Money Stuff column of the same day, Looking for Tether's Money [4]; it provides background and explanation of the mechanics of Tether, which I found to be educational. (That column was also archived [5].) [1] https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether https://www.bloomberg.com/news/features/2021-10-07/crypto-my... [2] https://news.ycombinator.com/item?id=28784745 https://news.ycombinator.com/item?id=28784745 [3] https://archive.is/LdRL6 https://archive.is/LdRL6 [4] https://www.bloomberg.com/opinion/articles/2021-10-07/matt-levine-s-money-stuff-looking-for-tether-s-money https://www.bloomberg.com/opinion/articles/2021-10-07/matt-l... [5] https://archive.is/cQVJl https://archive.is/cQVJl

samizdis 5y ago

> I read an article not that long ago where a journalist was trying to figure out where Tether kept its money (if there was any). I think that you might be referring to this one [1] from Bloomberg on Oct 7: Anyone Seen Tether’s Billions? It generated plenty of discussion on HN [2]. I mention it here because I enjoyed the article and the style in which it was written, if you don't mind a little snide humour in discussing a potentially serious problem. (The article was also archived [3].) Bloomberg commentator Matt Levine discussed the article in his Money Stuff column of the same day, Looking for Tether's Money [4]; it provides background and explanation of the mechanics of Tether, which I found to be educational. (That column was also archived [5].) [1] https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether https://www.bloomberg.com/news/features/2021-10-07/crypto-my... [2] https://news.ycombinator.com/item?id=28784745 https://news.ycombinator.com/item?id=28784745 [3] https://archive.is/LdRL6 https://archive.is/LdRL6 [4] https://www.bloomberg.com/opinion/articles/2021-10-07/matt-levine-s-money-stuff-looking-for-tether-s-money https://www.bloomberg.com/opinion/articles/2021-10-07/matt-l... [5] https://archive.is/cQVJl https://archive.is/cQVJl