12-06-2021, 09:00 AM
No, Tether did NOT just mint 1.5B "Out of thin air" - Audit linked
<!-- SC_OFF --><div class="md"><p>Latest audit by a third party firm: <a href="https://tether.to/wp-content/uploads/2021/12/tether-assurance-sept-30-2021.pdf">https://tether.to/wp-content/uploads/2021/12/tether-assurance-sept-30-2021.pdf</a></p> <p>You can dislike them using low risk investments to make money off the cash they are holding to back their assets, but saying they are pumping BTC to print more to buy more BTC is just patently false. What they are doing is generating value for their share holders through low risk investments, and generating funds they need to pay for operations, holding cash won't do that.</p> <p>The commercial paper is generally the sticking point for a lot of people, and that's fair (see: <a href="https://www.investopedia.com/terms/c/commercialpaper.asp">https://www.investopedia.com/terms/c/commercialpaper.asp</a>) as it is an unsecured loan, if those companies go belly up they will need to fight in court as a creditor to recover funds. The FUD that most of that was to Evergrande was just made up, they have confirmed they had no dealings with them (<a href="https://www.reuters.com/business/finance/stablecoin-tether-says-holds-no-evergrande-commercial-paper-2021-09-16/">https://www.reuters.com/business/finance/stablecoin-tether-says-holds-no-evergrande-commercial-paper-2021-09-16/</a>). You can argue they are just lying, as they have before. Sure, they could be, but Evergrande is too big to fail in China anyway, they will continue to be bailed out.</p> <p>If you want to honestly discuss the risk of Tether, fine, but don't make up bullshit that can be disproven with a google search.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/pegcity"> /u/pegcity </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/r9jx80/no_tether_did_not_just_mint_15b_out_of_thin_air/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/r9jx80/no_tether_did_not_just_mint_15b_out_of_thin_air/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Latest audit by a third party firm: <a href="https://tether.to/wp-content/uploads/2021/12/tether-assurance-sept-30-2021.pdf">https://tether.to/wp-content/uploads/2021/12/tether-assurance-sept-30-2021.pdf</a></p> <p>You can dislike them using low risk investments to make money off the cash they are holding to back their assets, but saying they are pumping BTC to print more to buy more BTC is just patently false. What they are doing is generating value for their share holders through low risk investments, and generating funds they need to pay for operations, holding cash won't do that.</p> <p>The commercial paper is generally the sticking point for a lot of people, and that's fair (see: <a href="https://www.investopedia.com/terms/c/commercialpaper.asp">https://www.investopedia.com/terms/c/commercialpaper.asp</a>) as it is an unsecured loan, if those companies go belly up they will need to fight in court as a creditor to recover funds. The FUD that most of that was to Evergrande was just made up, they have confirmed they had no dealings with them (<a href="https://www.reuters.com/business/finance/stablecoin-tether-says-holds-no-evergrande-commercial-paper-2021-09-16/">https://www.reuters.com/business/finance/stablecoin-tether-says-holds-no-evergrande-commercial-paper-2021-09-16/</a>). You can argue they are just lying, as they have before. Sure, they could be, but Evergrande is too big to fail in China anyway, they will continue to be bailed out.</p> <p>If you want to honestly discuss the risk of Tether, fine, but don't make up bullshit that can be disproven with a google search.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/pegcity"> /u/pegcity </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/r9jx80/no_tether_did_not_just_mint_15b_out_of_thin_air/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/r9jx80/no_tether_did_not_just_mint_15b_out_of_thin_air/">[comments]</a></span>Kind Regards R