[gws]

Come on guys, do some research, Tether now publishes audited reserve reports as part of the settlement with the US Department of Justice. ~70% of tether in circulation are backed by Treasury Bills and cash deposits, so immediately redeemable. The other ~30% in short term commercial paper can pose a bit of risk but unless they did something really stupid (and they are all but stupid) nothing to put the backing at risk. Tether is here to stay and if you feel giddy at the idea of it going down ask yourself why you are rooting for someone to fail...

https://tether.to/en/transparency/#reports

[donavanm]

Can you please clarify what you mean by “audited reserve reports”? The best ive heard of is “attestation” or “assurance.” From the very page you linked:

> Tether Holdings Limited do regular assurance opinions every quarter

And from the latest report:

> We have examined the assertions by the management of Tether Holdings Limited that its Consolidated Reserves Report as of 31 December 2021 at 11:59 PM UTC (the “CRR”), a copy of which has been included in Appendix 1 to this report, is correctly stated based on the balances set out therein.

Thats the account attesting that yes, they were provided with a report. The report, as stated, is internally consistent. Where does it say the independent accountant audited the holdings?

[tobltobs]

What is your research telling you about those red flags:

Being "audited" by a company nobody ever heard of,

not disclosing what commercial papers they hold for "privacy reasons",

being the seventh-largest holder of commercial papers without any traders seeing Tether buying anything.