How does tether make money?

But the real money comes from how Tether invests its billions it receives to mint USDT. Theoretically Tether should merely take customer funds and park them in cash and Treasurys fulfilling its pledge that its reserves are backed 1:1 to the U.S. dollar.

Did a tether trader 'circumvent the banking system'?

WSJ: One of those intermediaries, a major tether trader in China, was trying to "circumvent the banking system by providing fake sales invoices and contracts for each deposit and withdrawal," Stephen Moore, one of the owners of Tether Holdings, said in an email viewed by The Wall Street Journal. Mr.

Will tether become a public company?

Tether has no plans to become a public company, nor does it anticipate any changes in its management structure. Of more serious concern to Ardoino, Devasini and van der Velde, is the state of the overall cryptocurrency market, of which Tether is a key liquidity provider.

Does tether have an audit?

Tether has never had a definitive audit of its $66 billion in reserves, and its website only lists so-called attestations, which are just snapshots without the accounting firm actually tracking fund flows or doing any serious due diligence.