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Something I’ve been wondering is how Tether, which has a very difficult history of banking, has been able to pay out billions of dollars in USD in a few days (r
by phphphphp 4y ago
Something I’ve been wondering is how Tether, which has a very difficult history of banking, has been able to pay out billions of dollars in USD in a few days (regardless of having it — even if they had it, I assumed it would be very difficult).
Can you share how your USDT was redeemed — was it to USD from a US banking institution (a wire?) or some other mechanism?
Thank you!
- jules-jules 4y agoTheir are principally using San Diego-based Silvergate Bank https://www.silvergate.com/ https://www.silvergate.com/
- phphphphp 4y agoFor future reference, Silvergate CEO has denied any relationship with Tether in a podcast: https://open.spotify.com/episode/02VtOivOHp3spZ2qOxMhdC https://open.spotify.com/episode/02VtOivOHp3spZ2qOxMhdC
- phphphphp 4y agothank you! Very interesting. According to their latest financial reports, their volume of deposits doesn’t marry up with the claims made by Tether. Will be very interesting to see what Silvergate report as inflows/outflows at the end of the next quarter.