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There's almost $70 bn worth of USDT in the world. I don't believe Bitfinex has $70 bn of assets backing it. How much do they have? I dunno. But if there's a run
by greenthrow 4y ago
There's almost $70 bn worth of USDT in the world. I don't believe Bitfinex has $70 bn of assets backing it. How much do they have? I dunno. But if there's a run we're gonna find out.
- shawabawa3 4y agoIf their latest attestation is to be believed, they have $52B in cash+equivs including $28B in treasury bills So it will need a big big run until they start hitting their dodgy reserves in metals and loans That's of course unless the attestation is BS or defrauded which is entirely possible
- zzleeper 4y agoNote that treasury bills (and more so treasury bonds) have taken a beating with the increase in interest rates... so I wouldn't be surprised if they lost quite a bit there.