3min chapter

Odd Lots cover image

This Is What We Know About How Tether Works

Odd Lots

CHAPTER

Bitfinex and Tether in Well Pool Team

Tether was created to allow sort of easier onboarding of dollar deposits into the crypto system by allowing them to build and establish these relationships with various banks. We know at least part of the reserves were held at a variety of Taiwanese banks, many of which relied on Wells Fargo for their US correspondent banking services. Bitfinex is in tether's relationship with payments processor crypto capital core stretches back to 2014.

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