4 perfect paragraphs, no notes. https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether?srnd=premium …pic.twitter.com/poO0ty49Mf
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if we assume for the sake of argument Tether holds zero assets backing its crypto liabilities, and this was made public tomorrow, very little would happen in core USD funding or debt markets.
The article confirmed that a quarter of the funds are held in a Bahamian bank, so it would definitely pose a problem for the Bahamas lol, and there's also a confirmation that they hold Chinese CP but no word on American CP
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yeah, I was just using an ad absurdum example to illustrate the point that fraud risk and finstab risk are inverse at the extremes
Thanks. Twitter will use this to make your timeline better. UndoUndo
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