Tether released their reserves breakdown, as required by the New York Attorney General. There's a lot of noise about it (OMG it is only 2.9% backed by cash!!) but this doesn't look that bad to me?pic.twitter.com/lRxPpGGMYI
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The "commercial paper" are just IOU's from the co-conspirator Tether exchanges like FTX. We also know they're worth bupkis because they're all banked with Deltec, and Deltec doesn't hold anywhere near $42 billion in assets, let alone cash You need to fraud harder@Tether_to
pic.twitter.com/eUVeqc7QJg
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Didn't realize there was a sub set of fintwit for Fin-topus
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