Gregory Pepin, deputy CEO of Deltec Financial institution and Belief, responds to allegations in a weblog publish by the pseudonymous Crypto Nameless, that Tether is a “extremely in all probability fraud.” On this episode, he covers:
how Deltec accounts for its reserves, and why they didn’t present up on Crypto Nameless’s weblog publish
the place the {dollars} backing Tethers are held
how Tethers get created
the place Tether Ltd. retains its money equivalents
why there’s extra demand for buying and selling with USDT than with USD partially due to the arbitrage alternative between East and West
how Tethers get created utilizing Deltec
why USDT will get minted in very spherical numbers versus very particular numbers that USDC is minted in
the place the money equivalents backing Tethers are held
what sort of due diligence Deltec performed when it took on Tether Ltd. as a buyer
why the notion that Tether is unregulated in comparison with different stablecoins is fake
what Deltec thinks in regards to the New York Lawyer Common workplace’s investigation in to Tether
why Deltec has a “massive place in bitcoin”
Thanks to our sponsor!
Crypto.com: http://crypto.com
Episode hyperlinks:
Gregory Pepin: https://twitter.com/dzrgreg
Deltec Financial institution: https://www.deltecbank.com/?locale=en
Crypto Nameless’s Medium publish: https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3
Deltec having massive place in bitcoin: https://www.theblockcrypto.com/linked/91353/deltec-bitcoin-position-tether
Unique video by which Deltec mentions its “massive place in bitcoin”: https://www.deltecbank.com/2021/01/14/a-covid-year-in-review/
Deltec banking Tether: https://www.coindesk.com/deltec-chairman-says-tether-letter-on-bank-relationship-is-authentic
Tether not audited: https://www.coindesk.com/tether-review-claims-crypto-asset-fully-backed-theres-catch
Tether says it’s absolutely backed: https://www.coindesk.com/tether-says-its-stablecoin-is-fully-backed-again
Tether present balances: https://pockets.tether.to/transparency?__cf_chl_jschl_tk__=c035d054dd287020b16d6dbb4b70398ca7a99dcb-1611253376-0-AcOsT0Zqpd8Muzw5gnkSz6KKmTrN3WAssxGX8K-p_PkeZ2SUfW9EsAr-a2EkIojYzm5-3RA_1DHxpoK579d0YgtnxMYevlVRSS7RIAKh0sgk-ORzOZUDNgg_AvZjugdrxWVjTA9dCBf1hX4X83oU3-RTjQYn_qYukdRFJUq9a89BXyyDovL3bu4ohxSSVdworOR-cdxEiPURe4ZJrGIvuW3Ej2qJLJt3RDXfX6BfDANdpkVrU6O2KB4V0Or-HJjItS0uAu-L7KrTomXNv9anUv34_An8cH3VHYfB_OD-iyIvkgOh7RHd-Xafe-SJwPnUYg
What Tether is backed by: https://pockets.tether.to/transparency?__cf_chl_jschl_tk__=c035d054dd287020b16d6dbb4b70398ca7a99dcb-1611253376-0-AcOsT0Zqpd8Muzw5gnkSz6KKmTrN3WAssxGX8K-p_PkeZ2SUfW9EsAr-a2EkIojYzm5-3RA_1DHxpoK579d0YgtnxMYevlVRSS7RIAKh0sgk-ORzOZUDNgg_AvZjugdrxWVjTA9dCBf1hX4X83oU3-RTjQYn_qYukdRFJUq9a89BXyyDovL3bu4ohxSSVdworOR-cdxEiPURe4ZJrGIvuW3Ej2qJLJt3RDXfX6BfDANdpkVrU6O2KB4V0Or-HJjItS0uAu-L7KrTomXNv9anUv34_An8cH3VHYfB_OD-iyIvkgOh7RHd-Xafe-SJwPnUYg
New York Lawyer Common’s workplace press launch on investigation into iFinex: https://ag.ny.gov/press-release/2019/attorney-general-james-announces-court-order-against-crypto-currency-company
CoinDesk on NYAG investigation: https://www.coindesk.com/bitfinex-ny-prosecutors-tether-850-million-allege
Hyperlink to the Crypto Information Recap:
https://unchainedpodcast.com/what-8-trillion-could-do-in-bitcoin/
