Tether, the issuer of the world's largest stablecoin, has published its latest quarterly attestation, revealing it still has nearly $5 billion in loans despite aiming to reduce it to zero by 2024. The company's excess reserves now exceed its loans, but its reserves still contain a significant amount of Bitcoin and other investments. Goldman Sachs reported 45,300 employees, $1.867 billion net income in Q4 '23, and a $127.8 billion market cap. In contrast, Tether has 12 employees and recorded $2.85 billion net profits in Q4 '23. There are concerns about Tether's reporting, with calls for a legitimate third-party audit to verify their financial position.
The Context: 🔎 Did you know Bitfinex was supposed to be audited? Tether isn’t the only one reneging on promises Latest from @BennettTomlin Subscribe and read: https://t.co/Qtmphdbkph https://t.co/NWsFNFRkum
“Tether Reported” Unless it’s backed by a legitimate third party audit, none of their reporting should be believed. Imagine a money market fund worth billions of dollars and billions in alleged profits can’t find a single auditor to give them a clean bill of health.
“Tether Reported” Unless it’s backed by a legitimate third party audit, none of their reporting should be believed. Imagine a money market fund worth billions of dollars and billions in alleged profits can’t find a single auditor to give them a clean bill of health care.
Tether truthers have loudly made some of the most spectacularly incorrect calls like ever in the history of mankind. If you’ve been publicly calling for tether to blow up for years, nobody should take anything you say seriously ever again. You’re disqualified from having takes. https://t.co/f1eW34rnSx
The Tether group, issuer of the world's largest stablecoin, published its latest quarterly attestation today, showing its assets exceeded liabilities. https://t.co/1Jj1yCWD64
Goldman Sachs: - 45,300 employees - 1.867B net income in Q4 '23 - 127.8B market cap Tether: - 12 employees - 2.85B net profits in Q4 '23 USDT to $10 https://t.co/tuMnsyV2RX
Tether's latest attestation reveals it still has nearly $5bn in loans despite pledging to reduce the number to zero by 2024. While its excess reserves now exceed its loans, its reserves still contain a significant amt of Bitcoin and "other investments" https://t.co/PErsJMR0lr