Tether did it? Tether has a banks and proof of funds now?

in #bitcoin • 5 years ago (edited)


If you did not know Tether has officially announced their banking partner...
https://tether.to/tether-banking-relationship-announced/
They have patnered with Deltec Bank & Trust Limited (“Deltec”), a 72-year-old financial institution with headquarters in the Commonwealth of The Bahamas.
Off shore is easier for banking lol
but it still a (fucking) bank...

An attestment was done proving Tether had funds...
https://tether.to/wp-content/uploads/2018/11/Tether-Letter.pdf

FYI audits can't be done for fiat coins.
https://steemit.com/tether/@sames/think-tether-needs-to-audit-gemini-dollar-doesn-t-audit-either

So what you think? Is it the end of this dam stupid fiatcoin war? Tether still has 80-90% dominance in the shitty fiatcoin war.
I can believe there is that many of them...
I came to bitcoin to be from from fiat

#crypto #cryptocurrency #stablecoin #tether
5 years ago in #bitcoin by
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     5 years ago 

    Interesting. So they proved they can hold a peg or what? I couldn't open the doc for some reason. Maybe they still operate a fractional reserve? After all, there's no withdraw mechanism. They only need enough capital to maintain the peg, not necessarily 1:1 token to reserve ratio I suppose. Injecting new tokens is easy, but when supporting the peg from below that's when they'll need the capital. Hrm.

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       5 years ago 

      That what the bank claims:

      The banks says they have the money and it a real bank but is it trustfully?

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         5 years ago 

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