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This Week in Bitcoin | E355

Bitcoin & Markets

CHAPTER

Tether's Insolvency Documents

USDC and Circle wanted to show that tether was insolvent, but now they have the documents after two years of doing this. Instead, the documents validated tether's longstanding claims of being fully backed by reserves. So tether haters are wrecked. And there's another one we were right about. The European business activity slows in June as higher interest rates begin to bite. Europe is clearly in recession. They are not going to be able to get out of their economic decline. It's going to continue getting worse and worse. Maybe they will return to a normal of zero growth. But the trend is clear.

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