Is Tether a Fraud? Its Bank Says It's Not - Ep.161

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 "highly probably fraud." In this episode, he covers: how Deltec accounts for its reserves, and why they didn't show up on Crypto Anonymous's blog post where the dollars backing Tethers are held how Tethers get created where Tether Ltd. keeps its cash equivalents why there's more demand for trading with USDT than with USD partially because of the arbitrage opportunity between East and West how Tethers get created using Deltec why USDT gets minted in very round numbers as opposed to very specific numbers that USDC is minted in where the cash equivalents backing Tethers are held what type of due diligence Deltec conducted when it took on Tether Ltd. as a customer why the perception that Tether is unregulated compared to other stablecoins is false what Deltec thinks about the New York Attorney General office's investigation in to Tether why Deltec has a "large position in bitcoin" Thank you to our sponsor! Crypto.com: Episode links: Gregory Pepin: Deltec Bank: Crypto Anonymous’s Medium post: Deltec having large position in bitcoin: Original video in which Deltec mentions its “large position in bitcoin”: Deltec banking Tether: Tether not audited: Tether says it is fully backed: Tether current balances: What Tether is backed by: New York Attorney General’s office press release on investigation into iFinex: CoinDesk on NYAG investigation: Link to the Crypto News Recap:

You can listen to Is Tether a Fraud? Its Bank Says It's Not - Ep.161 online on Radio and Podcast. Open the player on this page to stream the available audio.

Is Tether a Fraud? Its Bank Says It's Not - Ep.161 is an episode from Unconfirmed by Laura Shin.

This episode is 38:51 long.

This episode was published on Jan 22, 2021.

Yes. Use the heart button on the episode page to add it to your favorite episodes list.

Yes. This page shows related episodes from Unconfirmed when more episodes are available from the podcast feed.