Crikey, someone made a credible claim that they found where Tether was banking: Puerto Rico, which (despite being in financial crisis) had a niche line of banking providers gain ~$2 billion in deposits in cash in Q4 2017 with no impact to non-cash assets, equity, or revenue.
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Credit to these folks: https://blog.bitmex.com/tether/ Here's Puerto Rico's financial regulator on balance sheets of "International Financial Entities": http://www.ocif.gobierno.pr/documents/Q2-2013/companie_IFE.pdf … It's, ahem, striking. This whole market segment had $700 million in total assets in 2016.
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"Excuse me I'd like to make a deposit into your non-banking niche financial institution." "Sure, how much for?" "$3.1 billion." "Right away sir."
9:18 PM - 18 Mar 2018
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