Tag: Tether

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Judge Orders Stablecoin Issuer Tether to Produce Documents Showing Backing of USDT

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the staff of the Ridgewood blog

New York NY, a judge in New York has ordered Tether to produce financial records relating to the backing of USDT. Tether is required to produce general ledgers, balance sheets, income statements, cash-flow statements, profit and loss statements, and records of any trades or transfers of cryptocurrency. Tether has also been ordered to share details about the accounts it holds at various crypto exchanges. The company is being accused of using USDT to inflate the price of bitcoin.

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The Market Cap Of The World’s Largest Stablecoin Tether Is Down 19% Since May 2022

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the staff of the Ridgewood blog

Ridgewood NJ, Tether, the issuer of the world’s largest stablecoin, USDT, has released its latest quarterly attestation report compiled by its new accounting firm, BDO Italia. Tether (USDT) is an Ethereum token that is pegged to the value of a U.S. dollar (also known as a stablecoin). Tether’s issuer claims that USDT is backed by bank reserves and loans which match or exceed the value of USDT in circulation.

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Tether’s Recovery of an $840mn loan Scrutinised in Celsius bankruptcy Raises Questions

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the staff of the Ridgewood blog

Ridgewood NJ, Stablecoin issuer Tether faces scrutiny over an $840mn loan it recovered from Celsius Network as the crypto lender’s bankruptcy tests how insolvency rules apply to digital assets.

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Shorting Tether and Looking for a Bottom on Crypto

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the staff of the Ridgewood blog

Ridgewood NJ, a recent Twitter thread compares the last bearish phases in the crypto market to the current situation to see if the bear market has reached its bottom yet. It presents data from previous bear market bottom zones with metrics. BTC (Bitcoin)has always bottomed at around 70-85% from its top price except for the drawdown in 2011. It is still far too soon to tell if the market has reached the bottom yet. The current macroeconomic situation makes everything more uncertain.

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