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Tether Is Trying to Be More Transparent. But Questions Linger

Tether Is Trying to Be More Transparent. But Questions Linger



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  1. Honestly Tether is always a scary threat, but I love that we’ve been able to develop into other coins such as GUSD/ USDC / DAI / BINANCE STABLE COIN etc. Makes me feel a bit more comfortable in the market, especially having things back 1 by 1 in dollars.

  2. tldr; Stablecoin issuer Tether released an attestation regarding its reserves, the amount of assets that “back” each coin. According to the attestation, Tether had $35.3 billion on February 28, supporting the $35 billion in Tether circulating at that time. The attestation is a gesture toward transparency from a company that’s faced scrutiny in the past.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. According to the statement made by NY Attorney General Letitia James, Tether must disclose “reserves, including the categories of assets backing tether stablecoins (e.g., cash, loans, securities, etc.)” on a quarterly basis.

    The statement was made February 23, so we should expect some substantial info from Tether around the end of May (90 days would be May 24), correct?

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