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What are these dollar-denominated assets? US treasury bonds?
by laserlight 4y ago
What are these dollar-denominated assets? US treasury bonds?
- erichocean 4y ago> US treasury bonds? Would you accept the lowest rated Chinese junk bonds instead? Asking for a friend…
- JumpCrisscross 4y ago> US treasury bonds? It’s hard to accumulate $100bn Treasuries without the dealers noticing.
- rossdavidh 4y agoNo.
- laserlight 4y agoWhat are they then?
- michaelt 4y agoI believe Tether's claim is essentially "We can't tell you what dollar-denominated assets we're backed by, or get any competent auditors to sign off on our accounts, but the reserves are there. Trust us. Would a cryptocurrency company lie to you?"
- lottin 4y agoThey won't say.
- vkou 4y agoCould be a piece of tissue paper with an IOU for a trillion dollars from Deadbeat Dan. Could be a deed to lovely waterfront property on the moon. Could be a controlling interest in Bitfinex. We don't know.
- WalterSear 4y agoIt's backed by Tethers.
- evdubs 4y agoFrom [1] - U.S. Treasury Bills: $28,856,434,491 - Commercial Paper and Certificates of Deposit: $8,402,426,505 - Money Market Funds: $6,810,253,431 - Cash & Bank Deposits: $5,418,232,067 - Reverse Repurchase Agreements: $2,992,015,954 - Non-U.S. Treasury Bills: $397,150,678 - Corporate Bonds, Funds & Precious Metals: $3,486,896,735 - Other Investments: $5,551,836,303 - Secured Loans: $4,494,373,260 - Total: $66,409,619,424 [1] https://assets.ctfassets.net/vyse88cgwfbl/2xJyKdUKicdRUWpC9buRWR/6fe2987698dbbf39b947af718d736ddb/Std_ISAE_3000R_Opinion_30-6-2022_RC134792022BD0303.pdf https://assets.ctfassets.net/vyse88cgwfbl/2xJyKdUKicdRUWpC9b...
- laserlight 4y agoThanks for the reference. Although I'm not able to judge the validity of the report, looks like around half of Tether's assets (not necessarily half of their market cap) are held in dollar-denominated securities (T-bills and cash).