The Issuer of cryptocurrency token USDT unreasonably persecuted by the community, doubting whether he has enough Fiat reserves to the performance of their obligations, says Bloomberg News, citing caught at his disposal documents.
They reflect information about Fiat assets of the Tether in four different months. Familiar with the situation sources told that at least some of these documents were transmitted to the regulators. According to Bloomberg, they cannot provide complete reporting on the status of the Bank accounts of Tether, however they contain more information than anything published before.
For example, in one of them States that as of 31 January of the current year Tether had $2.2 billion in Puerto Rican Noble Bank. At the same time in treatment was 2,195 billion USDT. Were also found confirmation of security tokens USDT in September and October 2017.
According to Bloomberg, the documents submitted do not contain information about the source of funds and their current location. The documents were obtained by a person having access to the Affairs of the company and the representative of the authorities has confirmed the accuracy of their data.
Tether opened the scoring in the Noble Bank in September 2017. By 30 September it was $392 million at the same time, the company had $60,9 million in Bank of Montreal, for a total of $452,9 million as of September 2017 in treatment was 435 million USDT.
Data for July 2018 indicate that this month’s account balance Tether dropped from $1.9 billion to $210 million Obviously, this is due to the transition of the company to the Bank Deltec, which she had previously stated publicly.
According to sources, Noble Bank demanded data from the public bitcoin blockchain, through which the Tether using the Omni Protocol produces its tokens, as justification for financial operations of the company. Subsequently, these data were verified by regulators – the whole process took about 6 months.
Another curious finding is the amount of profit received from the Tether storage of customer funds on Deposit. According to the July document, with the beginning of the year, interest payments amounted to $6.6 million.
31 Oct Deltec Bank confirmed that in the accounts of the Tether was $1 831 322 828, but the main issues of community were associated with the reserves in the previous stages, in particular at the moment of the meteoric rise in bitcoin exchange rate at the end of last year, which, according to some assumptions, could be associated with the release of a large amount of unsecured tokens USDT. It should be noted that the data for November – December of 2017, when the USDT market capitalization grew from $450 million to $1.4 billion, Bloomberg is not given.
The current status of the investigation initiated by the Commission on trade commodity futures U.S. (CFTC) in relation to the Tether, not identified. The representative of the press service of the Tether and Bitfinex refused to comment on the information on financial flows and relations with the CFTC.
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