Public Citizen consumer advocacy group released a report titled ‘Big Crypto, Big Spending’ that showed ‘crypto corporations’ poured $119 million into the current U.S. election cycle.
Tether recently issued its latest attestation report on the reserve assets allegedly backing up the over $113 billion in circulating USDT tokens as of June 30.
Circle's CEO said some digital asset firms claim to abide by the govt's AML/CFT standards but do otherwise while warning about "offshore" entities posing a "challenge to U.S. dollar dominance."
Tether noted that it prepared its reserves report "using the recognition and measurement principles" of the IFRS without making sufficient disclosures to actually comply with the IFRS.
Howard Lutnick, the CEO of U.S. trad-fi giant Cantor Fitzgerald, declared himself "a fan" of Tether stablecoin partly because he holds their treasuries, which is over $90 billion now.
Tether CTO Paolo Ardoino declared that Tether's "exposure in" T-bills has hit $72.5 billion, up from a mere $55.8 billion that Tether claimed to possess at the end of June.
