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 has issued a blog post in which the integrity-challenged firm claimed that as of October 12, it had "eliminated commercial paper from its reserves," replacing them with T-Bills.
