[wyxuan]

Patrick is overindexing on the investments portion of the report – which is a little under 5% of backing. There are investment deals and crypto, but it's unknown if this represents the entirety of the amount fwiw.

If we take a step back and look at the key takeaway from the audit report is that amount of commercial paper was reduced and amount of T-bills (essentially cash) was increased by 5 bil. Good news if you think solvency is an issue, but of course they're all scoundrels eh?/s

Tether might have done shady things in the past as the article, but the scale to which Tether operates now (10s of bllns), in addition to scrutiny from SDNY, external audit, etc mean that Tether from before is much different from the Tether now, and it has pulled off the made it portion of "fake it till you make it".

[cuteboy19]

The question is, why would you hold tether if there is even a 1% chance of collapse?

Remember, there is literally no upside, it's not as if USDT will go to the moon.

So why not dump it for the time being in either Bitcoin or USD?

[hiq]

There is still no audit, only attestations.