Bitfinex shareholder claims Tether …

Bitfinex shareholder claims Tether …

Bitfinex shareholder claims Tether is backed by $ 3 billion

Zhao Dong, a prominent Chinese investor and shareholder of Bitfinex, claims to have seen Tether and Bitfinex bank balances with his own eyes during a recent meeting with Bitfinex CFO Giancarlo Devasini. Writes about this Bitcoin.com with a link to a blog post Dong.

“Lao Mao (note – CEO of Big.one) and I just saw the dollar account of Tether and Bitfinex at Giancarlo’s office. The Tether account has USD 1.8x billion, and the Bitfinex account has USD 1.1 billion. A total of about 3 billion USD, which exceeds the number of USDT in circulation. This refutes all the rumors about USDT, ”writes Dong..

Devasini, in turn, during an interview with Mao said that “the Bitfinex team numbers about 50 people”, and “the Tether team does not work for money,” adding: “As early Bitcoin investors, the team is endowed with a sense of duty and responsibility.”.

He also noted that the company does not intend to disclose all the details of its relations with banks, which is supposedly a response to pressure from the US banking industry, which in every possible way hinders the activities of Tether..

“Tether can no longer be limited to the US dollar,” he said, offering as an alternative “Euro, Japanese yen and other fiat currencies.” Earlier, Tether announced the issuance of EURT token pegged to the euro.

Mao concluded from interview that “we can trust Tether and USDT”.

Mao’s sentiment regarding Tether tokens has changed markedly in recent years. Last November, he urged cryptocurrency exchanges not to integrate pairs with USDT..

Bitfinex shareholder claims Tether ...

“We commissioned our partner at Goldman Sachs to conduct the USDT study,” he writes, adding that the results of the study were “shocking”.

“Bitfinex, the largest shareholder in Tether, is likely to have access to Tether deposits at any time,” the report says..

In addition, the authors of the report criticized both companies for the lack of transparency in their relations with banks, and specifically Tether for the fact that the issuer presented the auditor Friedman LLP’s checks as full-fledged audits, although they were not..

Bitfinex shareholder claims Tether ...
Bitfinex shareholder claims Tether ...

Similar articles

  • Tether capitalization exceeded $ 15 billion…

    The capitalization of Tether has exceeded $ 15 billion, having increased 4 times since the beginning of the year The capitalization of the stablecoin USDT has exceeded $ 15 billion….

  • New Bitfinex Quarterly Report…

    Bitfinex’s quarterly report reveals new details about the exchange’s relationship with Tether Bitfinex exchange, which recently announced that it really is connected with…

  • Tether issues USDT and EURT tokens on the blockchain…

    Tether issues USDT and EURT tokens on the Ethereum blockchain The issuer of cryptocurrency tokens pegged to fiat currencies, Tether for several years…

  • Tether issues USD 300 million at a time…

    Tether Issued 300M USDT in One Time Tether Ltd, which issues a USD pegged digital asset, after a lengthy…

  • Bitfinex leaves the US…

    Bitfinex leaves the US Cryptocurrency exchange Bitfinex published an announcement on its website, according to which its service will become unavailable for clients from…

admin