Tether Holdings is offering bitcoin collateral to crypto companies, Bloomberg reported on Thursday. billions of dollars worth of debt.
Zeke Faux, about $69 billion has published a special news about the reserves of Tether, which has minted USDT worth .
Tether declares that each USDT it produces is “backed by (the company’s) reserves of traditional currencies and cash equivalents, and from time to time more different assets.”
In the news, Tether reserves billions of dollars of It is claimed that it consists of short-term loans given to some large companies in China.
Tether’s attorney, Stuart Hoegner, reportedly declined to comment on whether the company’s reserves include financing bills issued by companies in China.
In a report published in August 2021, it was determined that $30.8 billion of Tether’s $62.7 billion reserves consisted of financing bonds and certificates of deposit.
Tether has also lent billions of dollars in total to crypto companies, with bitcoin collateral, one of which is Celsius Network Ltd. was declared.
Speaking to Faux, Alex Mashinsky, CEO of Celsius Network, told Faux that they received 1 billion dollars in exchange for debt They pay interest in the range of 5-6% told.
Tether, in a statement about the news in Bloomberg, stated that the allegations in the news “wrong” information and that these claims are based on Tether. “without direct knowledge” stressed that it was mentioned by the names.
Update (16:11): Added description of Tether.