Here’s Where Tether Might Be Keeping Their Money
Tether – Following the unfavorable events involving the UST stablecoin created by Luna, traders and investors worldwide are concerned about the security of their money in stablecoin products like Tether, which suffered significantly with millions of outflows surfacing briefly.
Blockchain detectives have discovered a sizable amount of genuine USD that matches Tether “shockingly well” according to recent study. We can find out who is behind the project by contributing to Tether’s stockpile.
Silvergate and Signature are two significant U.S. banks that provide services to the digital economy and link cryptocurrencies to the world of fiat currency. Signature experienced significant capital inflows over the last two years, with total deposits in the 2020–2022 timeframe surpassing $260 billion.
The similar situation exists with Silvergate, which claims in its own documentation that it operates primarily in the cryptocurrency field and has little to no engagement in the retail market, meaning deposits to the bank should only come from one source.
Tether’s historical market value is the most fascinating portion
The comparison between total deposits and Tether’s historical market value is the most fascinating portion. The analyst notes in the table that the market capitalization of the stablecoin offered corresponds exactly to the sum of the deposits held by the two institutions.
Given the range of deposits held by different banks, such a link cannot be a coincidence. The same amount of deposits and Tether market capitalization may have been attained in a single quarter or even a single year, but 10 consecutive quarters is a pattern we cannot ignore.
The analyst points out that while this fact does not imply that Tether is completely developed and secure to use, it does reveal the real purpose of the project and the types of banks who support it.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Annie
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Here’s Where Tether Might Be Keeping Their Money
Tether – Following the unfavorable events involving the UST stablecoin created by Luna, traders and investors worldwide are concerned about the security of their money in stablecoin products like Tether, which suffered significantly with millions of outflows surfacing briefly.
Blockchain detectives have discovered a sizable amount of genuine USD that matches Tether “shockingly well” according to recent study. We can find out who is behind the project by contributing to Tether’s stockpile.
Silvergate and Signature are two significant U.S. banks that provide services to the digital economy and link cryptocurrencies to the world of fiat currency. Signature experienced significant capital inflows over the last two years, with total deposits in the 2020–2022 timeframe surpassing $260 billion.
The similar situation exists with Silvergate, which claims in its own documentation that it operates primarily in the cryptocurrency field and has little to no engagement in the retail market, meaning deposits to the bank should only come from one source.
Tether’s historical market value is the most fascinating portion
The comparison between total deposits and Tether’s historical market value is the most fascinating portion. The analyst notes in the table that the market capitalization of the stablecoin offered corresponds exactly to the sum of the deposits held by the two institutions.
Given the range of deposits held by different banks, such a link cannot be a coincidence. The same amount of deposits and Tether market capitalization may have been attained in a single quarter or even a single year, but 10 consecutive quarters is a pattern we cannot ignore.
The analyst points out that while this fact does not imply that Tether is completely developed and secure to use, it does reveal the real purpose of the project and the types of banks who support it.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
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