> All indications are that they do in fact have $2B in cash on hand
No-liability letter showing a point-in-time portfolio cash position from a bank in The Bahamas posted to Tether's domain is a far cry from sound. It's not nothing. But it's trivial to manufacture with an overnight loan--that's why banks get audited.
No-liability letter showing a point-in-time portfolio cash position from a bank in The Bahamas posted to Tether's domain is a far cry from sound. It's not nothing. But it's trivial to manufacture with an overnight loan--that's why banks get audited.