Tether responds to Bloomberg's accusations

Tether responds to Bloomberg's accusations

Bloomberg started on October 7th in a business week article entitled "Anyone Seen Tether’s Billion?" a devastating attack on the stable coin issuer.

In it the financial news giant specified that the stablecoin is essentially a fraud, since it does not have the assets to support it. At the time of the letter, according to Tether's own transparency, 69 billion USDDOs were in circulation External report .

"Tether Holdings does not have enough assets to maintain the 1-to-1 exchange rate.

How to sprinkle salt into the wounds, followed Bloomberg with another Article on October 8th with the most important points of the previous.

It claims that part of Tether's reserves contains "short -term loans in billions in billions to large Chinese companies". It added that some loans are crypto -assured, but Tether has already confirmed this.

Bloomberg pointed out to Giancarlo Devasini, Chief Financial Officer from Tether, and quoted the former CEO of Noble Bank, John Betts. He claims that Devasini has invested part of the reserves "to generate hundreds of millions of dollars for themselves".

also repeated older reports, which according to Tether leaders' aim of an investigation of criminal bank fraud by the US Justice Ministry.

stop bite back

Tether published an answer to the devastating reports on October 7, which means:

"A one -act act that the industry has often seen, which takes up excerpts from old news from different locations and dubious sources and fits into a prefabricated and predefined story."

tether shows Bloomberg history with dubious sources as old message from ⬇️ https://t.co/7r6ezwpbwp

-HALDSEID (@Tther_to) 7. October 2021

The company added that Bloomberg "refused to let the facts of history get in a scale" and rely on John Betts that Tether had released as his banker. In return, Tether fingered Betts and added:

"Betts was also accused of getting into tremendous and wasteful self -transactions and enriching themselves at nobles."

when audit?

HALDER are , however, must still present a complete and complete examination of his reserves. According to a court file in May, the USDT reserves are heavily weighted in dollars, but also include payment-means equivalents, bonds, secured loans, crypto-assets and other investments.

US regulatory authorities meanwhile Exercise with the same tired claims that they threaten the traditional financial system. Essentially, this was her purpose, as Tether testified in his reference.

"Although this could endanger the establishment of traditional financial systems, we will continue to work for the underrepresented."

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