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BDO Italia attests that Tether has their money. https://tether.to/en/transparency/#reports https://tether.to/en/transparency/#reports The Chairman and CEO of C

by evdubs 3y ago

BDO Italia attests that Tether has their money. https://tether.to/en/transparency/#reports https://tether.to/en/transparency/#reports The Chairman and CEO of Cantor Fitzgerald, a primary dealer and banking partner for Tether, says Tether has their money. Deltec bank, a banking partner for Tether, says Tether is fully backed by reserves. https://www.coindesk.com/business/2021/01/22/tethers-bank-deltec-says-stablecoin-is-fully-backed-by-reserves/ https://www.coindesk.com/business/2021/01/22/tethers-bank-de... That's not convincing?

smoldesu 3y ago
If a Wall Street CEO is uncomfortable directly stating that Tether is completely pegged, then I am a bit unconvinced.
- evdubs 3y ago
  Where did he give that impression?
  - smoldesu 3y ago
    Everything listed in the article is non-committal and specifically worded to avoid making conclusive statements. It's similar to the way a businessperson behaves when they want to avoid legal liability. Read these quotes: > Does Tether have the money it says it does. > "They have it," he said during an interview with Bloomberg TV. That's not a direct reference to the currency being pegged. "the money" and "it" is non-descriptive; it might as well be referring to the advertising fund or the community bingo payout. > "I manage many of their assets," said Lutnick, who brought up crypto in the interview that was streamed live from Davos, Switzerland. "From what I've seen – and we did a lot of work – they have the money they say they have." "Many" of their assets says nothing about whether they are pegged. If anything, the fact that he hasn't seen the remaining assets should be alarming to him. The only actual fact that he claimed in the entire article is that "we did a lot of work", which may well be true but has nothing to do with the Tether controversy. The lack of detail or scrutiny should alarm any diligent investor familiar with tradfin scams.
aurareturn 3y ago
So get a top 10 audit firm to confirm it?
- evdubs 3y ago
  That's what the attestation is. BDO, a top 5 accounting network, confirms that Tether has the assets they claim to have.

by evdubs 3y ago

smoldesu 3y ago

If a Wall Street CEO is uncomfortable directly stating that Tether is completely pegged, then I am a bit unconvinced.

evdubs 3y ago
Where did he give that impression?
- smoldesu 3y ago
  Everything listed in the article is non-committal and specifically worded to avoid making conclusive statements. It's similar to the way a businessperson behaves when they want to avoid legal liability. Read these quotes: > Does Tether have the money it says it does. > "They have it," he said during an interview with Bloomberg TV. That's not a direct reference to the currency being pegged. "the money" and "it" is non-descriptive; it might as well be referring to the advertising fund or the community bingo payout. > "I manage many of their assets," said Lutnick, who brought up crypto in the interview that was streamed live from Davos, Switzerland. "From what I've seen – and we did a lot of work – they have the money they say they have." "Many" of their assets says nothing about whether they are pegged. If anything, the fact that he hasn't seen the remaining assets should be alarming to him. The only actual fact that he claimed in the entire article is that "we did a lot of work", which may well be true but has nothing to do with the Tether controversy. The lack of detail or scrutiny should alarm any diligent investor familiar with tradfin scams.

aurareturn 3y ago

So get a top 10 audit firm to confirm it?

evdubs 3y ago
That's what the attestation is. BDO, a top 5 accounting network, confirms that Tether has the assets they claim to have.