@bitcoinlawyer@Tether_to Clearly Tether Limited is registered with FINCEN as a MSB anyone can search and confirm. Putting aside the registered vs regulated debate. Is it not misleading to suggest that @Tether_to is regulated?
@bitcoinlawyer@Tether_to Tether states that since Jan 2018 it no longer serving the US market, and pursuant TOS "tether limited" is ringfenced specifically to US customers, of which there are none.
@bitcoinlawyer@Tether_to since Tether Limited doesn't transaction with customers; all customers fall under the umbrella of the BVI entity Tether International Limited which is NOT registered/regulated by FINCEN.
@bitcoinlawyer@Tether_to If 100% of @Tether_to business operates and is governed by TIL then 1) @Tether_to is NOT regulated 2) why go to the effort of registering an entity that essentially has no business to regulate/register? Its not hard to see why there are questions as to transparency
yesterday I threw out an off the cuff question to @Bitfinexed
How much of the redeemed #tether was used to recover and maintain its peg?
The obvious answer is whatever they had to.
I've spent a big chunk of today crunching data to see what answers I could come up with.
Last night I scratched out my hypothesis - to maintain its peg...#tether would need to tap its own cash...can only do that via redemptions and the 'tell' will be burning the tokens like they never existed.
Basis for this thinking is pretty simple. That's what they do when they need cash and lots of it. Remember back in 2018 #novogratz was swooning over the orderly redemption of $700m by #tether.
The #tether#commercialpaper section has been expanded/updated to show not just the net changes but the new issues/rollovers etc....
The purpose of the #commercialpaper analysis was to highlight that the reported $6.4B reduction in CP was only half the story....and it kinda shits me that the numbers are just trumpeted by most news as is...
Have been working through $CEL #celsiusnetwork's $750m Series B round. Will share #googlesheets file tomorrow. Here's a preview.
3 Dec 2021 #Celsius resolved to issue up-to 36,930 Series B shares at a price of US$20,469 per share. As at 2 Feb 2022 total of 32,182 Series B shares had been issued. I'm presuming #bnktothefuture will have closed out the balance.
The #Celsius Cap table (as at 2 Feb) with pre/post money for each issue.
So finally got around to plugging in #tether's Dec 2021 attestation numbers. So their non-token debt is now up to 57m which means their net assets are down to $137m imagine having 80Billion in assets and still having to borrow money each quarter to fund operations....
oh and the increase in debt between quarters is $41m which just happens to be the fine #tether copped.