So if nobody in the USD/EUR commercial paper world has heard of Tether, who are the major Chinese CP dealers? Someone, somewhere has to be selling these guys product right?
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Yes but that would of ignore the seniority of whatever the loans were likely making them riskier than the company generally. Also loans backing tether collateralized with bitcoin also could feed into the problem.
So this is essentially what I thought was happening with real estate cos, but apparently it’s celsius instead. Interestingly C don’t really lend out tether, so they are short USDT in this scenariopic.twitter.com/gRSQ2BTO5V
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So in this case Celsius is providing crypto collateral to tether for USDT loans?
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Yeah exactly.
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