Evergrande Just Took A Huge Blow, Court Orders Liquidation. This Could Be A Big Financial Domino.
(media.greatawakening.win)
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Yeah u/doug1956, Tether supposedly parks their funds in Evergrande due to their high returns.
Tether is used to pump up the cryptos and there is belief that there is way more Tether printed than their funds.
When the underlying funds lose value due to a Evergrande collapse, the expectation is that the emperor is left standing with no clothes.
I remember reading this failure could decimate crypto’s because of tether’s balance sheet. I think they said at the time about 1/3 of their assets were tied to Evergrande paper.
Any sauce on this? Sounds quite dasting.
Afaik this was the first time people started connecting Tether and Evergrande.
Pretty explicitly denied though.
https://www.coindesk.com/markets/2021/09/15/tether-denies-holding-evergrandes-commercial-paper-as-reserve-for-stablecoin-usdt/
Feels like if they had Evergrande exposure it would be some sort of indirect exposure (e.g. an ETF or some other fund that held Evergrande). It's not very cabal-like to directly lie.
Tether's books apparently being closed, one can only speculate or hope for leaks, I suppose.
Oh, they do, when they are confident they wont get caught.
Remember - "I did not have sexual relations with that woman"
But in this case you might be right. The specific denial of not holding "securities issued by Evergrande" has all the hallmarks of them having indirect exposure to Evergrande.
Honestly, I think the whole "Evergrande focus" is one of those "paytriot" psyops. In reality it does not matter if the exposure is to Evergrande or to any kind of paper, because all paper is worthless and the collapse will happen regardless.