On Thursday, registered investment adviser and fintech firm Defiance announced it has launched the first nonfungible token (NFT)-focused exchange-traded fund (ETF) on the New York Stock Exchange Arca. 7 US $3.5T spending bill stalls This is a crypto backed by an asset. Have you heard the rumors about the $30B in Tether commercial paper being a loan to Evergrande? A couple of days ago we warned that Evergrande is preparing for bankruptcy. This makes Tether more exposed to global commercial paper market volatility (such as what happened with Evergrande), which could potentially result in insufficient reserves in the event of a "bank run". TRENDING: What's Going On? Tether is the largest of what are referred to as stablecoins. This is enough for Financial Times to place Tether among "global giants" in that category. Tether is 80% of beeteecee volume; even if tether once had $64 billion dollars, the value of their chinese commercial paper would be down at least 30%, and at least 50% if it's evergrande. Stablecoin Tether denies holding Evergrande paper September 19, 2021 admin 0 . [After living in Hong Kong the past decade, my hunch is that Evergrande is not the only company unable to make debt payments on real estate in China.] Related: Record-high inflation prompts investors to take a closer look at Bitcoin.
Cryptocurrency News; Adoption & Regulations The exchange had also suspended trading in the bond on Friday. Hong Kong Behemoth in China Real Estate US Stocks Plummet as "China's Lehman" Evergrande Reaches Brink of Collapse - Noticias 1776
However, it turns out that most of the U.S. dollars backing Tether actually consisted of "commercial paper." Arizona Recently Processed 673,000 Voter Identities with the Social Security Administration - 58% Had NO MATCH FOUND. If Tether goes to 0. Tether has denied holding Evergrande debt but Stuart Hoegner, Tether's lawyer, had declined to say whether Tether had other Chinese commercial paper in an interview with Bloomberg Businessweek. Tether commercial paper could be Chinese and it is one of the largest commercial paper traders in existance.
The stock closed down by around 10%, hitting 11-year . Tether commercial paper could be . Then instantly sell it for DAI or Gemini Stablecoin and cash out your 100 mil. . U.S. Securities and Exchange Commission chairman Gary Gensler has said recently that many cryptocurrencies — including stablecoins — are securities as the SEC prepares to recommend increased . . Tether said that it funnelled roughly half its reserves into commercial paper.
China's most indebted property developer Evergrande Group said on Monday that it was arranging payment for some of its project companies' commercial paper that had not been repaid on time. Tether owns just under $30 billion of commercial paper, yet trading desks in Europe and New York have not had dealings with it. Tether, the world's largest 'stablecoin', said in a statement it does not hold any commercial paper or securities issued by embattled developer China Evergrande Group (3333.HK), as regulatory . Llewellyn-Smith also highlights something many industry insiders have long suspected - that the stable coin Tether is exposed to Evergrande's commercial paper. Commercial paper is an unsecured, short period debt tool issued by a company, usually for the finance and inventories and temporary liabilities. The maturities in this paper do not last longer than 270 days. Blocks Inform. He also shares his expectations on stablecoin regulation and competition. 1turn keyframes spin transform rotate 0deg transform rotate 1turn webkit keyframes pending transform translateX 100 transform translateX 100 keyframes pending transform translateX 100 transform translateX 100 webkit keyframes drop opacity transform. [Personal comment - there are numerous billionaires in Hong Kong and many, if not all, are in Chinese real estate Tether Denies Holding Commercial Paper Issued by Troubled Real Estate Developer Evergrande September 19, 2021 admin 0 Stablecoin issuer Tether has said it does not hold commercial paper issued by Chinese real estate company Energrande, which faces imminent default to the magnitude of the Lehman Brothers collapse. Tether commercial paper could be Chinese and it is one of the largest commercial paper traders in existance. Bears speculate Tether has Evergrande commercial paper, which Tether has denied, but even if tether went down that would mean a pump for bitcoin as everyone would go from USDt to BTC. With its rapidly growing market capitalization, one-to-one stablecoins are competing with short-term debt products . On Monday the US stock market plunged nearly 700 points as Evergrande fears mounted. 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 Treasury plots stablecoin crackdown even as Tether's dominance wanes September 19, 2021 admin 0. . See. In an interview, stablecoin Tether's tech chief Paolo Ardoino lays out the case for holding commercial paper in its reserves. Tether commercial paper could be Chinese and it is one of the largest commercial paper traders in existance. Largest Issuer of China's Commercial Paper, Evergrande, Is Facing Bankruptcy, Entire World Economy Likely Impacted.
Follow . 5 Weaker than expected jobs report. Stablecoin Tether says it does not hold any commercial paper from Evergrande in recent a statement. Evergrande Is Collapsing - Will Not Make Its Massive Debt Payments - 5 Times Bigger than Lehman Brothers.
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. TRENDING: UPDATE: South African Doctor Who Discovered "Omicron" Variant Says There's Nothing to Worry About - Only Mild Symptoms (VIDEO) On Monday the US stock market plunged nearly 700 points as Evergrande fears mounted. Evergrande is trying to find a way to cut costs and sell off some of its assets to dig its way out. This company has $300 billion in debt and it is unable to make its payments. [Personal comment - there are numerous billionaires in Hong Kong and many, if not all, are in Chinese real estate. Reuters reported: 80% of decentralised currency volume disappears overnight. A severe market correction coincided with a surge in activity from crypto whales, who moved over half a billion dollars worth of stablecoins in a matter of hours, according to a whale-watching bot. By Joe Hoft Published September 15, 2021 at 2:30pm . 27/31 Currently both Tether and Circle hold commercial paper, and while I think it unlikely that either would have large swaths of Evergrande bonds, the whole market will reel a bit. Tether has denied holding Evergrande debt but Stuart Hoegner, Tether's lawyer, had declined to say whether Tether had other Chinese commercial paper in an interview with Bloomberg Businessweek. there's no way they can exit their position holding such a huge amount of paper. Tether commercial paper could be Chinese and it is one of the largest commercial paper traders in existance. 1turn keyframes spin transform rotate 0deg transform rotate 1turn webkit keyframes pending transform translateX 100 transform translateX 100 keyframes pending transform translateX 100 transform translateX 100 webkit keyframes drop opacity transform. On September 7, Zerohedge shared: With algos busy chasing upward momentum in futures and global stocks, the biggest - if largely ignored story - remain the ongoing collapse of "China's Lehman", the $300+ billion China . The exchange had also suspended trading in the bond on Friday. That includes $30.6 billion in commercial paper and certificates of deposit, $7.2 billion in cash, almost $1 billion in money market funds and $19 billion in Treasury bills.
Amid increasing regulatory concerns surrounding stablecoins, Tether has come out to say it does not hold any commercial paper issued by Evergrande. TRENDING: What's Going On? Tether has denied holding Evergrande debt but Stuart Hoegner, Tether's lawyer, had declined to say whether Tether had other Chinese commercial paper in an interview with Bloomberg Businessweek. It's worth 100 million USD, so give me 100 million Tether." You then take that 100 million USDT and buy BTC. Commercial papers are short-term unsecured debt issued by corporations and are seen as less reliable and riskier than cash. 80% of decentralised currency volume disappears overnight. Bitcoin plunged overnight after a sell off that began during the stocks opening intensified this Shanghai morning. On September 7, Zerohedge shared: With algos busy chasing upward momentum in futures and global stocks, the biggest - if largely ignored story - remain the ongoing collapse of "China's Lehman", the $300+ billion China Evergrande, where following our earlier reports (see below .
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