Stablecoin Tether said in a recent statement that it does not hold any commercial paper from Evergrande. there's no way they can exit their position holding such a huge amount of paper. Tether’s defenders can say that even if one were to assume Tether spent half of every dollar it is said to have taken in over the past two years on commercial paper in China, that would be under one-fifth of new issuances and 4% of the market. Blocks Inform. The regulator singled out Binance and Tether as allegedly risky players in the blockchain space. Tether Claims to Hold no Commercial Paper From Struggling ... The latest financial disclosure from Tether, which serves as a controversial foundation for much of the cryptocurrency market, didn’t shed any more light on where its reserves are held. Tether has denied holding any Evergrande debt, but [Stuart ] Hoegner, Tether’s lawyer, declined to say whether Tether had other Chinese commercial paper. Tether, Bitcoin and Chinese Commercial Paper at Scale Tether Tether says it doesn’t hold any commercial paper issued by ... Tether claims not to hold any commercial paper from ... A growing crisis in China It did, however, tell the FT that it has limits on regional exposure. Tether’s commercial paper disclosure places it among ... Tether boasted a $1 billion market capitalization when Bitcoin hit $20,000 at the end of 2017. PSA: Stuart Hoagner (Tether's lawyer) just basically confirmed that Tether is in fact holding Chinese Commercial Paper. Tether does not and has never held any commercial paper, other debt, or securities issued by Evergrande,” the company wrote in a note to Capital.com, adding that “the great bulk of the commercial paper held by Tether is in A2 and above-rated companies. A growing crisis in China Read more: A Bridge Called Tether. When asked by The Block if it held any Chinese commercial paper, the company said that it holds international commercial paper but would not disclose any futher details. Tether The company also denied holding any Evergrande debt and claims to hold only commercial paper issued by A-2 and above-rated companies, which it claims to be risk-free. What is Tether? | Tether Crypto Market | Tether Trading ... Tether has vehemently dismissed the claims and has stated it maintains the full value of the reserves backing its stablecoin supply. The lawyer did however, reassure Faux that the majority of Tether’s commercial paper holds high ratings from credit rating agencies. Evergrande, China’s second-largest property developer by sales, recently warned that it was in danger of defaulting on massive debts. “The vast majority of the commercial paper held by Tether is in A-2 and above rated issuers,” says Tether. Stablecoin issuer Tether holds $30.8 billion in commercial paper and certificates of deposits. Although Tether has denied holding any commercial paper from the now-collapsing China Evergrande Group, its lawyer declined to disclose exactly, which other Chinese commercial paper Tether does own. Evergrande is trying to find a way to cut costs and sell off some of its assets to dig its way out. Earlier this year, Tether settled with the New York Attorney General’s office over a case which was reported on back in September 2019. This breakdown of funds comes just after being listed on Coinbase, the cryptocurrency exchange which was recently listed Nasdaq NDAQ -1%. A growing crisis in China could have a big impact in the market for commercial paper. Elsewhere on the website, there’s a letter from an accounting firm stating that Tether has the reserves to back its coins, along with a pie chart showing that about $30 billion of its dollar holdings are invested in commercial paper—short-term loans to corporations. While Tether (the company) said back in September it does not hold Evergrande commercial paper, about a month ago Bloomberg BusinessWeek reported Tether’s assets included “billions of dollars in short-term loans to large Chinese companies – something to … Tether Holdings Ltd. had assets totaling at least $69 billion as of Sept. 30, according to an assurance from Cayman Islands-based Moore Cayman. Tether’s defenders can say that even if one were to assume Tether spent half of every dollar it is said to have taken in over the past two years on commercial paper in … If the commercial paper market in China is perceived to be riskier, the value of all Chinese debt drops. … China’s loose and reactive (at best) financial regulatory environment is one reason anxiety around Tether has largely centered on whether it holds Chinese commercial paper in … If Tether goes to 0. Lately, Tether tells The Block that it doesn’t hold any commercial paper issued by China Evergrande. Stablecoin Tether says it does not hold any commercial paper from Evergrande in recent a statement. Stablecoin Tether says it does not hold any commercial paper from Evergrande in recent a statement. Tether, the largest stablecoin issuer in the crypto space, released its first breakdown of reserve holdings. Of their $42 billion in funds, on March 31, Tether claims to hold over 75% of their reserves in cash and cash equivalents, most of which are in the form of commercial paper. Tether’s defenders can say that even if one were to assume Tether spent half of every dollar it is said to have taken in over the past two years on commercial paper in China, that would be under one-fifth of new issuances and 4% of the market. Evergrande is trying to find a way to cut costs and sell off some of its assets to dig its way out. Tether’s defenders can say that even if one were to assume Tether spent half of every dollar it is said to have taken in over the past two years on commercial paper in China, that would be under one-fifth of new issuances and 4% of the market. This year, it’s a $70 billion-plus powerhouse. Tether’s defenders can say that even if one were to assume Tether spent half of every dollar it is said to have taken in over the past two years on commercial paper in China, that would be under one-fifth of new issuances and 4% of the market. Stablecoin issuer Tether holds $30.8 billion in commercial paper and certificates of deposits. The company also denied holding any Evergrande debt and claims to hold only commercial paper issued by A-2 and above-rated companies, which it claims to be risk-free. Practically every crypto exchange supports USDT trade in some form. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. Blockchain Topics. Tether’s defenders can say that even if one were to assume Tether spent half of every dollar it is said to have taken in over the past two years on commercial paper in China, that would be under one-fifth of new issuances and 4% of the market. Evergrande is trying to find a way to cut costs and sell some of its assets to find its way. Evergrande, China’s second-largest property developer by sales, recently warned that it was in danger of defaulting on massive debts. Practically every crypto exchange supports USDT trade in some form. Bitfinexed is suggesting that Tether's commercial paper is non-performing loans from China. Follow . Tether’s defenders can say that even if one were to assume Tether spent half of every dollar it is said to have taken in over the past two years on commercial paper in China, that would be under one-fifth of new issuances and 4% of the market. Although Tether has denied holding any commercial paper from the now-collapsing China Evergrande Group, its lawyer declined to disclose exactly, which other Chinese commercial paper Tether does own. PSA: Stuart Hoagner (Tether's lawyer) just basically confirmed that Tether is in fact holding Chinese Commercial Paper. Tether has provided little information on where this commercial paper is based. Tether’s Response to Bloomberg. A growing crisis in China could have a big impact in the market for commercial paper. Stablecoin issuer Tether says that it doesn’t hold any commercial paper issued by the Chinese real estate giant Evergrande. Tether said that it funnelled roughly half its reserves into commercial paper. Stablecoin issuer Tether says that it doesn’t hold any commercial paper issued by the Chinese real estate giant Evergrande. When asked by The Block if it held any Chinese commercial paper, the company said that it holds international commercial paper but would not disclose any futher details. The lawyer did however, reassure Faux that the majority of Tether’s commercial paper holds high ratings from credit rating agencies. Evergrande is trying to find a way to cut costs and sell off some of its assets to dig its way out. Tether’s defenders can say that even if one were to assume Tether spent half of every dollar it is said to have taken in over the past two years on commercial paper in China, that would be under one-fifth of new issuances and 4% of the market. Tether has provided little information on where this commercial paper is based. If there is a proof it would be easy bounty from Hindenburg
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