Bloomberg to Gain Access Tether Fin. Reports

Company’s accounts in the Puerto Rican Noble Bank kept $ 2.2 billion
18 December 2018   307

The Bloomberg has gained access to the financial statements of Tether Limited, the issuer of stablecoin USDT. To give an unequivocal answer, whether all USDT tokens are provided with US dollars at the moment, the publication did not work, but on January 31 this statement was true.

So, on this day, the company’s accounts in the Puerto Rican Noble Bank kept $ 2.2 billion. According to the CoinMarketCap analytical resource, at the same time, there was 2.195 billion USDT in turnover. The data also coincided in September and October 2017, according to representatives of the publication.

Note that Tether Limited managed to open an account with Noble Bank in September 2017, and the company increased its assets from zero to $ 392 million in just one month. about $ 60.9 million user funds. At least this was mentioned in the report of the auditing firm Friedman LLP, with which Tether subsequently broke off relations.

The Bloomberg report states that cash began to flow into another bank in July 2018. If at the beginning of the month, the account with Noble Bank was $ 1.9 billion, at the end - $ 210 million. Probably, the money was transferred to Deltec Bank in the Bahamas, which confirmed that Tether had $ 1.831 billion in balance on October 31, 2018 .

It is worth adding that the publication managed to match a number of transactions between the Bitfinex and Tether accounts at Noble Bank, which completely coincided with the USDT transfers.

Recall that in January, the US Commodity Futures Trading Commission (CTFC) began to study the activities of Bitfinex and Tether, sending summons to the representatives of both organizations to the court. After that, Tether suspended the issue of USDT tokens for two months.

In November, the US Department of Justice launched its own investigation to check whether bitcoin price manipulation took place at the expense of the USDT issue.

Tether to Issue TRON Blockchain Based USDT Tokens

At the moment, a number of large platforms, including Bitfinex, OKEx, Gate.io and Huobi, have announced their readiness to list new token
18 April 2019   131

Issuer of Tether began to issue USDT coins based on the Tron blockchain. This is reported by the head of the Tron Foundation Justin Sun announced on Twitter.

He also urged the exchanges and cryptowallets to support the initiative. A number of large platforms, including Bitfinex, OKEx, Gate.io and Huobi, have announced their readiness to list new asset.

In addition, as Justin Sun said, the first investors will receive a reward for converting USDT on Bitcoin or Ethereum blockchains in the TRC-20 standard USDT - 20 million USDT will be distributed as additional interest payments within 100 days.

Tether and Tron announced a partnership in early March. As Tether CEO Jean-Louis van der Velde said at the time, Tron-USDT will be the next step in the company's development and demonstrates its commitment to spreading innovation in the cryptocurrency space and striving to meet the needs of the community formed around digital assets.