According to the company director Tether Paolo Ardoino, 9% stablecoins Tether (USDT) issued by his firm are not backed by assets.
During a recent performance in the Swiss city of Lugano, Ardoino сообщил , which the USDT issuer holds in reserves:
- 82 bitcoins worth $454 billion at the current exchange rate;
- 48,3 tons of gold worth $4,2 billion;
- Securities issued by the US government, approximately $100 billion.
Thus, the value of assets supporting the USDT rate is $109,8 billion, and the level of capitalization of stablecoins reaches $120,2 billion. Accordingly, the issued USDT coins are not fully backed by assets, but only by 91%.
The curious fact is that Paolo ignored the reserve deficit and boasted about the company's savings.
Paolo Ardoino
In addition, Ardoino recently refuted information that American officials are investigating the firm's activities Tether , allegedly suspected of violating money laundering laws and sanctions. He said he was unaware of such an investigation. According to the head of Tether , the company's employees, on the contrary, cooperate with law enforcement agencies in the fight against the illegal use of cryptocurrencies.
