2025-11-27
Tether, “The Stable Company” just saw S&P cut its assessment rating from 4 to 5 - the lowest rating possible - citing persistent gaps in disclosure and high risk assets being held in its reserves. Only in crypto would the bedrock stablecoin of crypto trading be viewed as so [image]
Financial Times
Jefferies: Tether, which said it held 116 tons of gold in September, is “the largest holder of gold outside central banks”, buying 26 tons in Q3 and 24 in Q2
Remember about a month ago, when gold hit an all-time high, lots of commentators got on their hobby horses to huff about currency debasement?
Tether, “The Stable Company” just saw S&P cut its assessment rating from 4 to 5 - the lowest rating possible - citing persistent gaps in disclosure and high risk assets being held in its reserves. Only in crypto would the bedrock stablecoin of crypto trading be viewed as so [image]
Bloomberg
The S&P downgrades the ability of Tether's USDT to maintain its US dollar peg to “weak”, the lowest rating, citing exposure to high-risk assets such as bitcoin
their only recourse is to attack us because they're losing. Paolo Ardoino / @paoloardoino : System is broken. They're upset we make it evident Matt Cole / @colemacro : If you accep...
2024-08-12
Tether's own terms of service state they “will not issue Tether for BTC....only money will be accepted” Yet the Celsius lawsuit reminds that Tether made $812 million USDT “available” to Celsius in exchange for BTC collateral. So Tether issued USDT for BTC, not cash (and this [image]
The Block
Celsius sued Tether on August 9 to try to claw back 39,542 bitcoin, now worth ~$2.4B, that Celsius claims Tether sold improperly at the bottom of the market
Zack Abrams / The Block :
2024-02-19
More legal noise around Tether, SBF/Alameda and Deltec in Bloomberg today Recall Deltec was caught by the US hiding money for illicit actors last July and had over $50mm seized by Paolo's best buddies at the Secret Service 😂. So this new story will not help Deltec's standing...
Bloomberg
A Florida court filing accuses the Bahamas-based Deltec Bank of giving Alameda Research a short-term line of credit worth billions of dollars to buy Tether
Zeke Faux / Bloomberg :
2023-12-11
For all the crypto maxis pulling out their hair, I will again note that a stablecoin requires connectivity to TradFi. That means compliance is not an option. Paolo's past bull shit suggesting Tether is beyond the reach of the US authorities is collapsing around his ears.
The Block
Tether freezes the wallets of people sanctioned by the US Treasury's OFAC to stop “potential misuse” of its tokens, one of its new CEO's first significant moves
2023-12-10
For all the crypto maxis pulling out their hair, I will again note that a stablecoin requires connectivity to TradFi. That means compliance is not an option. Paolo's past bull shit suggesting Tether is beyond the reach of the US authorities is collapsing around his ears.
The Block
Tether freezes the wallets of people sanctioned by the US Treasury's OFAC to stop “potential misuse” of its tokens, one of its new CEO's first significant moves
- Tether has frozen its coins held in crypto wallets sanctioned by the U.S. Office of Foreign Asset Controls, the company announced today.
2023-10-20
So, Genesis, considered a sophisticated player in crypto, ran an undercollateralized loan book using Gemini money to lend mostly to 3AC, Alameda and DCG and then lied about it. Result: 232K retail investors lost $1bn. And crypto wonders why regulators are cracking down?
Fortune
New York AG Letitia James sues lender Genesis, its parent company DCG, and the Winklevoss' exchange Gemini for allegedly defrauding 230K+ investors of $1B+
and secured mostly by FTT [image] Bryan Brinkman / @bryanbrinkman : @NewYorkStateAG I'm a New York resident who uses Gemini, banning them will only force us to use offshore crypto ...