Quote from: fr4nkthetank on Today at 01:12:28 PM

Tethershit coin is a threat to financial stability. The whole thing is basically a scam, its not 1USDT=1USD, at all. If it was then Outstanding Tether = same number in USD cash. It is not.
USD cash in tether is about 2.9%, add fiduciary deposits = 21% of the total.

Here is the breakdown with my analysis

3% actual cash + fiduciary deposits = 21% USD
12% is "secured loans" == They bought big houses in the caribbean
10% precious metals/corporate loans == They bought Gold and stashed it
1.5% shitcoins == They bought shitcoins to pump and dump
5% TBills, reverse repo notes == could count as cash but interest bearing

AND roughly

50% Commercial Paper == +30 Billion == I will admit there is 1.1 Trillion outstanding in commercial paper, however that is close to 3% of all the outstanding commercial paper in the US.
Add USDC, maybe 5% of all commercial paper is held by usdt+usdc

If crypto market goes x5, stablecoins x5, then 25%...you get the picture. Commercial paper is what enables you to have a paycheck at the end of the week by the way.
my2satoshis

Tether is trading on FTX at 1.0001 right now with 24h volume of $48b
That's what the market is telling us about Tether.