Tether has lent billions of dollars more to other crypto companies with bit coin as collateral. If devisini is taking enough risk to earn even a one % return on tether's entire reserves, that would give him and his partners a 690 million dollar annual profit. The officials who gathered in july at the treasury department are discussing regulating tether like a bank - or even undermining it by issuing an official us.
This week's Cover Story for Bloomberg Businessweek:
"Stablecoin Tether Grows Into Crypto World’s $69 Billion Mystery"
Read by Bloomberg's Mark Leydorf.
A wild search for the U.S. dollars supposedly backing the stablecoin at the center of the global cryptocurrency trade—and in the crosshairs of U.S. regulators and prosecutors.
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