Tether’s Banking Relationships, Commercial Paper Exposure Detailed in Newly Released Legal Documents
Tether's banking relationships were detailed in a rare but limited window into the reserves behind USDT, the crypto market’s largest stablecoin, in documents obtained by CoinDesk under a Freedom of Information Law request.
Financial times published this a few days ago: https://www.ft.com/content/a4a36384-63d0-4929-8959-64d45a8d1dd6
Solari Report also had a very interesting podcast where they discuss Bitcoin and Tethers part in price manipulation:
https://x.com/steveinpursuit/status/1869793861029286204
This all ties together with a potential MASSIVE landgrab in the US.
https://x.com/jannean111/status/1869845221464519013?s=61
This triggered a deep sadness and hopelessness within me.
Especially knowing that Trump and Elon will most likely facilitate the biggest landgrab and steal from the American people that we have ever seen with the help of villan-fuckers like Lutnic etc..
Thanks!
Will check it when back home.
Black hats have and continued to push this narrative. Why? Simple, they can not control and manipulate these positions.
In January 2024, Howard Lutnick, chief executive of Wall Street giant Cantor Fitzgerald, told BloombergTV at the sidelines of the World Economic Forum in Davos that concerns about Tether's reserves were misplaced and noted that "they have the money." In the same interview, Lutnick revealed that his company was acting as custodian for Tether's reserves.
Not sure what you mean. Tether is a dirty company that have been previously busted in their 1:1 Tether:USD backing claim.
The idea was that Tether would issue more stablecoins than the actual reserves they had - just like the fed printing money and diluting dollars.
By using these unbacked stablecoins you can dilute the crypto prices.
There was much speculation, but I never saw anything solid to say this was happening.
Lutnic manages a lot of Tether's assets via his company, and so is in a position to know if there is anything shady. He has vouched for their assets based on this inside vantage point.