Here’s what new Tether documents reveal about its reserves
Documents obtained by CoinDesk and Bloomberg as part of a freedom of information (FOI) request have revealed more details about Tether reserves from March 2021, including which banks it relied on and who was issuing the commercial paper that dominated its reserves during this period. Tether has previously shared the makeup of its reserves for this period with several news outlets. This included a pie chart that revealed that Tether had approximately half of its reserves in commercial paper. Several months later, Tether faced accusations that its reserves included commercial paper related to beleaguered Chinese property developer Evergrande, which it would categorically deny. Doesn't hold and never held. https://t.co/nwNh88R0QI — Paolo Ardoino (@paoloardoino) September 15, 2021 The documents reviewed don’t show any commercial paper from Evergrande, but do include a variety of other Chinese entities including, but not limited to: The Agricultural Bank of China B...