Reeve Collins addressed the claims in an appearance on CNBC’s SquawkBox.
Tether has periodic audits conducted for government agencies as per Reeve.
The company behind the USDT stablecoin, Tether, has reportedly been lending its coins to consumers rather than selling them for cash, according to a new report. Tether has been criticized for its lack of openness in not publishing the exact amount of USDT reserves it has, and the report claims that the crypto behemoth has neglected to reveal its stablecoin-issued loans.
One of the major crypto exchanges, FTX, filed for Chapter 11 bankruptcy earlier this month, giving rise to these concerns. Tether’s collateral may have been weakened or perhaps completely destroyed by the ensuing market crash. Tether cofounder Reeve Collins addressed the claims in an appearance on CNBC’s SquawkBox.
Periodic Audits Claimed
In his defense, Reeve points out that the corporation’s proof-of-reserves documents are available on the corporate website for any
We współpracy z: https://thenewscrypto.com/tether-co-founder-defends-usdt-reserve-claims-post-ftx-collapse/
