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News

Tether Founder Claims The Company’s USDT Reserve Is Transparent

December 3, 2022 - Around 2 mins mins to read
Recent reports concerning Tether’s loans to partners have aroused investor concerns, and Tether co-founder Reeve Collins has rejected these claims.
Tether Founder Claims The Company's USDT Reserve Is Transparent

Collins decided to intervene in the case as the backlash against Tether grew. On CNBC’s recent broadcast of SquawkBox, he finally defended the company against multiple allegations.

Tether released its evidence of reserves on the company’s official website, according to the co-founder. He said the publication was available for anybody to view and evaluate its facts.

USDT’s integrity, according to the co-founder, has been preserved throughout its operating existence. He stated that the company has never failed to redeem its coin for exactly $1 per coin.

Tether Founder Claims The Company's USDT Reserve Is Transparent

Collins stated that even after selling Tether in 2015, the company has not departed from its operating principles. According to him, the company has endured the test of time because it has continued to apply the finest strategies in reducing operational risks.

Collins also mentioned that the company is audited on a regular basis over a few months. This technique will allow government funds to investigate the procedures that go into their investment and administration.

Tether’s USDT are the most widely adopted stablecoins, having pioneered the concept in the digital token space. A disruptor to the conventional financial system and a trailblazer in the digital use of traditional currencies, USDT support and empower growing ventures and innovation throughout the blockchain space. USDT exist as a digital token built on multiple blockchains.

Tether, the cryptocurrency exchange OKX, and the venture capital firm Sequoia Capital are among the businesses that Bankman-Fried is said to have approached for funding. It is said that he has requested at least $1 billion from each of the organizations. The sentiment was expressed in a blog post by Tether on November 9 assured the community that it has no exposure to Alameda or FTX.

In November, Tether’s CTO, Paolo Ardoino, confirmed the company has “no plans to invest or lend money to FTX/Alameda.”

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 us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Reeve Collins

Stablecoin

Tether

USDT

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Tether Founder Claims The Company’s USDT Reserve Is Transparent

Recent reports concerning Tether’s loans to partners have aroused investor concerns, and Tether co-founder Reeve Collins has rejected these claims.
Tether Founder Claims The Company's USDT Reserve Is Transparent

Collins decided to intervene in the case as the backlash against Tether grew. On CNBC’s recent broadcast of SquawkBox, he finally defended the company against multiple allegations.

Tether released its evidence of reserves on the company’s official website, according to the co-founder. He said the publication was available for anybody to view and evaluate its facts.

USDT’s integrity, according to the co-founder, has been preserved throughout its operating existence. He stated that the company has never failed to redeem its coin for exactly $1 per coin.

Tether Founder Claims The Company's USDT Reserve Is Transparent

Collins stated that even after selling Tether in 2015, the company has not departed from its operating principles. According to him, the company has endured the test of time because it has continued to apply the finest strategies in reducing operational risks.

Collins also mentioned that the company is audited on a regular basis over a few months. This technique will allow government funds to investigate the procedures that go into their investment and administration.

Tether’s USDT are the most widely adopted stablecoins, having pioneered the concept in the digital token space. A disruptor to the conventional financial system and a trailblazer in the digital use of traditional currencies, USDT support and empower growing ventures and innovation throughout the blockchain space. USDT exist as a digital token built on multiple blockchains.

Tether, the cryptocurrency exchange OKX, and the venture capital firm Sequoia Capital are among the businesses that Bankman-Fried is said to have approached for funding. It is said that he has requested at least $1 billion from each of the organizations. The sentiment was expressed in a blog post by Tether on November 9 assured the community that it has no exposure to Alameda or FTX.

In November, Tether’s CTO, Paolo Ardoino, confirmed the company has “no plans to invest or lend money to FTX/Alameda.”

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 us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

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