![Tether Tether coin with red and black abstract background](https://coingeek.com/wp-content/uploads/2023/12/Tether-380x188.webp)
Tether’s secret loans to ‘crypto’ heavies put under the spotlight
Tether's integrity is being put into question following DBM's release of a new report shedding light on the platform's questionable loans and other entities tied to this matter.
Tether's integrity is being put into question following DBM's release of a new report shedding light on the platform's questionable loans and other entities tied to this matter.
Two different people run Binance and Tether, but both claimed to be against illicit acts in the 'crypto' space, which proved untrue for the former, while the latter shows signs of false assertions.
Kraken has become a key fiat off-ramp for Tether's USDT, raising questions about why anyone would send cash to Tether to obtain USDT only to turn around and immediately trade that USDT on Kraken.
Tether released its Q3 reserves attestation on Halloween and emphasized in its report was the fiscal reality that Tether ‘asserted’ on September 30.
Years dragged on and a change in leadership took place, but Tether still couldn't provide the transparency in its reserves, which, today, continues to be imaginary.
Tether's claim to fight terrorism financing tied to digital assets contradicts the current state of its USDT stablecoin, which remains a popular funding option for terror groups.
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.
In the latest developments in the "crypto" space, Tether's secret banking ties are put on the spotlight after partnering with Britannia Bank & Trust, while Binance ceases support for BUSD products.
Following the weekend news, Justin Sun tweeted to reassure Tron and Huobi customers that he remained a free man, while Huobi issued a blog post insisting that the exchange "is operating as usual."
Tether's audit report claims its reserves have ballooned by $7.1 billion from what was registered in Q1, but its real cash on hand paints a different picture, with figures said to be plummeting fast.
Tether announced that starting this month, it would “regularly allocate up to 15% of its net realized operating profits towards purchasing” BTC.
Tether claims to have made nearly $1.5 billion in ‘net profit’ according to the latest Not An Audit™ by the company behind crypto’s most notorious stablecoin.