Quote:
Originally Posted by ShopCat
Your facts are incorrect, cash and cash equivalents are about 76% per their quarterly release for the NYAG.
But Tether will be an interesting one to watch, it could always fall apart and bring a lot of people with it if they are indeed hiding mismanagement and fraud. They are complying with the NYAG but still vague with terms like "commercial paper" making up a large portion of their cash equivalents. I think this has been discussed for about 5 years now so eventually its gotta happen or people gotta move on to something new to worry about.
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Sorry, wasn’t clear. Cash and US Govt securities (UST) are only 5%. Most of “cash equivalents” is commercial paper and other assets that are not treated like cash and UST by risk managers.