{"id":2539,"date":"2022-06-10T09:57:53","date_gmt":"2022-06-10T09:57:53","guid":{"rendered":"https://uk20201.com/blog\/?p=2539"},"modified":"2022-06-10T09:57:55","modified_gmt":"2022-06-10T09:57:55","slug":"tether-transparency-is-needed-following-terras-ust-collapse-analyst","status":"publish","type":"post","link":"https://uk20201.com/blog\/en\/uncategorized\/ex\/2539\/","title":{"rendered":"Tether \u2018Transparency Is Needed\u2019 Following Terra\u2019s UST Collapse: Analyst<\/strong>"},"content":{"rendered":"
\n
\"Tether\"<\/figure><\/div>\n\n\n

Tether1<\/h2>\n\n\n\n

Alexandre Lores, director of blockchain market research at Quantum Economics, said stablecoin issuers like Tether, the issuer of\u00a0USDT<\/a>, the largest of the stablecoins, should be providing external audits of underlying assets.<\/p>\n\n\n\n

Tether2<\/h2>\n\n\n\n

\u201cI think more transparency is needed in terms of showing what they [Tether] actually hold on the balance sheet,\u201d Lores said on\u00a0CoinDesk TV\u2019s “First Mover”<\/a>\u00a0program.<\/p>\n\n\n\n

Tether3<\/h2>\n\n\n\n

USDT, which is supposed to be pegged 1:1 with the value of the U.S. dollar, is hosted on blockchains including Bitcoin, Ethereum and Tron. USDT most recently had a $10 billion drop<\/a> in its circulating supply, placing its market capitalization at just above $73 million, according to CoinGecko<\/a>.<\/p>\n\n\n\n

As questions linger about the feasibility and safety of stablecoins<\/a> in general, USDT\u2019s issuer has had past regulatory run-ins. In October it was fined for more than $42 million<\/a> by the Commodity Futures Trading Commission (CFTC) for allegedly violating the Commodity Exchange Act (CEA) and CFTC regulations. According to the CFTC, Tether\u2019s stablecoins were not fully backed at all times. Tether and a sister company also paid an $18.5 million settlement in February 2021 to close an investigation by the New York Attorney General’s office<\/a>.<\/p>\n\n\n\n

Now, as Tether looks to reassure investors while meeting its legal obligations<\/a>, its latest attestation report<\/a>, as of March 31, reveals that $286 million of Tether\u2019s assets were being held in non-U.S. Treasury bonds with a maturity of less than 180 days. That revelation was not included in its previous December report<\/a>.<\/p>\n\n\n\n

Lores said Tether\u2019s opaqueness will remain an issue because markets are down and investors are moving to preserve their assets. He said that could change if investors grow more interested in seeking greater profits.<\/p>\n\n\n\n

\u201cIt\u2019s a short-term change as long as the bear markets continue, which I personally think is going to happen for at least the next year,\u201d Lores said.<\/p>\n\n\n\n

He added that backing a stablecoin with a volatile asset makes no sense at all and \u201cas long as they [Tether] have not provided transparent audits of their treasury in real time, it\u2019s going to remain a problem,\u201d he said.<\/p>\n\n\n\n

U.TOWN\uff1ahttps:\/\/u.town\/en<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tether1 Alexandre Lores, director of blockchain market […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\nTether \u2018Transparency Is Needed\u2019 Following Terra\u2019s UST Collapse: Analyst - U.TOWN<\/title>\n<meta name=\"description\" content=\"Alexandre Lores, director of blockchain market research at Quantum Economics, said stablecoin issuers like Tether, the issuer of\u00a0USDT, the largest of the stablecoins, should be providing external audits of underlying assets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"zh_TW\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tether \u2018Transparency Is Needed\u2019 Following Terra\u2019s UST Collapse: Analyst - U.TOWN\" \/>\n<meta property=\"og:description\" content=\"Alexandre Lores, director of blockchain market research at Quantum Economics, said stablecoin issuers like Tether, the issuer of\u00a0USDT, the largest of the stablecoins, should be providing external audits of underlying assets.\" \/>\n<meta property=\"og:url\" content=\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2539\/\" \/>\n<meta property=\"og:site_name\" content=\"U.TOWN\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-10T09:57:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-10T09:57:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https://uk20201.com/blog\/wp-content\/uploads\/2022\/06\/image-3.png\" \/>\n<meta name=\"author\" content=\"admin1\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin1\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9810\u4f30\u95b1\u8b80\u6642\u9593\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 \u5206\u9418\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2539\/#article\",\"isPartOf\":{\"@id\":\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2539\/\"},\"author\":{\"name\":\"admin1\",\"@id\":\"https://uk20201.com/blog\/#\/schema\/person\/465f9d960ffe4355dbd44ff26c85a528\"},\"headline\":\"Tether \u2018Transparency Is Needed\u2019 Following Terra\u2019s UST Collapse: Analyst\",\"datePublished\":\"2022-06-10T09:57:53+00:00\",\"dateModified\":\"2022-06-10T09:57:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2539\/\"},\"wordCount\":375,\"publisher\":{\"@id\":\"https://uk20201.com/blog\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"zh-TW\"},{\"@type\":\"WebPage\",\"@id\":\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2539\/\",\"url\":\"https://uk20201.com/blog\/en\/uncategorized\/ex\/2539\/\",\"name\":\"Tether \u2018Transparency Is Needed\u2019 Following Terra\u2019s UST Collapse: Analyst - 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