Jesse Powell on Twitter: "@ExkrementKoin Not defending Tether but this is a statement of liabilities/balances, not funds flows. You’d want to look at the sum total of deposits to their account. Current balance doesn’t mean much as we know they don’t keep 1:1 USD reserves. They take the USD coming in and buy other assets" / Twitter

All is quiet in The Bahamas. No sign of $15 billion entering their banking system this year. So Tether's "reserves" are either held in custody off of Deltec's books, or in other offshore bank accounts, or Door #3... 🤔 centralbankbahamas.com/publications/q

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Jesse Powell

@jespow

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@ExkrementKoin

Not defending Tether but this is a statement of liabilities/balances, not funds flows. You’d want to look at the sum total of deposits to their account. Current balance doesn’t mean much as we know they don’t keep 1:1 USD reserves. They take the USD coming in and buy other assets

5:23 AM · Jun 3, 2021Twitter for iPhone

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· Jan 18, 2021

Replying to @ejboyl

"Internal transfers between accounts" implies customers keep balances on account with Deltec. Growing market cap and larger issuances imply growing balances. The data says Tether is full of shit, just like when they admitted they were only 74% backed. amycastor.com/2021/01/10/tet

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· Jan 13, 2021

As of September 30th, 2020: * Total non-resident foreign currency deposits across all Bahamian resident banks (including Deltec): $5.4 billion. * Deltec total assets under management per website: $10 billion. * Tether market cap: $15.5 billion. What's wrong with this picture?

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· May 27, 2021

16/ twitter.com/intel_jakal/st

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You're out of you're friggin mind if you think Tether fraudsters took in $30 billion in cash and bought commercial paper with it. Their cash position is the same as 3 fucking years ago, yet they're issuing 800 million usdt per day. The data doesn't lie

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Matt Ranger

@vhranger

· May 18, 2021

With $30B in commercial paper, tether's supposed reserves makeup represents a healthy 3% of the entire US commercial paper market. sec.gov/files/primer-m @intel_jakal

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Jesse Powell

@jespow

Jun 4, 2021

Why would they buy commercial paper when they could buy #BTC?

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