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The most recent “transparency report”[0] for their reserves seems to suggest the near majority of it (35B) is backed by US treasury bills. They are also counti
by bthrn 4y ago
The most recent “transparency report”[0] for their reserves seems to suggest the near majority of it (35B) is backed by US treasury bills.
They are also counting debt by other corporations in their “cash and bank deposits” classification (24B).
Is the goal here to establish whether this is factual, or is it to determine what comprises these in greater detail?
[0] https://assets.ctfassets.net/vyse88cgwfbl/4hiNJsZ98LlZqCJHKzrLpV/2b6338482ef0093382885f80ba6f1083/Tether_Assurance-12-31-21.pdf https://assets.ctfassets.net/vyse88cgwfbl/4hiNJsZ98LlZqCJHKz...
- DebtDeflation 4y agoThe question they seem to want to dodge is who is the issuer of all that Commercial Paper. They'd like people to believe it's a diverse group of blue chip companies. The reality is it's probably Binance and a few other crypto companies.