Post #334 Is Tether a Fraud? Its Bank Says It’s Not | Crypto Currency | Digital Assets

All I can say is. Watch the body language of that guy. Throughout the entire conversation, he folded his arms and keeps rocking in his chair. Observe his raised eyebrows and micro-facial expressions. You decide for yourselves what USDT Tether is.

Gregory Pepin, deputy CEO of Deltec Bank and Trust, responds to allegations in a blog post by the pseudonymous Crypto Anonymous, that Tether is a not legit.

In this episode, he covers:

1) how Deltec accounts for its reserves, and why they didn’t show up on Crypto Anonymous’s blog post

2) where the dollars backing Tethers are held

3) how Tethers get created

4) where Tether Ltd. keeps its cash equivalents

5) why there’s more demand for trading with USDT than with USD partially because of the arbitrage opportunity between East and West

6) how Tethers get created using Deltec

7) why USDT gets minted in very round numbers as opposed to very specific numbers that USDC is minted in

8) where the cash equivalents backing Tethers are held

9) what type of due diligence Deltec conducted when it took on Tether Ltd. as a customer

10) why the perception that Tether is unregulated compared to other stablecoins is false

11) what Deltec thinks about the New York Attorney General office’s investigation in to Tether

12) why Deltec has a “large position in bitcoin”