Who is backing this stablecoin? Who is managing the backing? Where is Tempo located?

Tether has now moved to Bukele's paradise El Salvador and its backing is managed by Howard Lutnick's Cantor Fitzgerald. Previously Tether's funds were managed by Deltec in the Caribbean, a bank with a colorful history.

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bflesch 6 days ago | parent [-]

It's crazy that after all this time Tether is still a thing.

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bgwalter 6 days ago | parent | next [-]

It has a certain utility and powerful friends:

https://www.ft.com/content/b3c5b67d-1df8-4417-8dd5-2c86d76d6...

	▲	bflesch 6 days ago \| parent [-]
		I can only see the title because I don't have FT subscription but I'm thankful for FT shielding me from more bad news. Ignorance is bliss ;)

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quantumgarbage 6 days ago | parent | prev [-]

Not only tether is a "thing", its actually in the top 10 US bonds buyer. So this "thing" isn't a business anymore, but an actual, proper, geopolitical actor.

	▲	bflesch 6 days ago \| parent [-]
		Thanks for sharing, that's news to me. They seem to have surpassed Germany as US treasury bond holder [1] but recently stopped buying bonds [2]. Do you have any information which geopolitical actor controls tether? Is it China or Russia trying to circumvent SEPA? Or North Korea because north korean hackers have so much bitcoin from their ransomware operations? [1] https://cointelegraph.com/news/tether-us-treasury-holdings-s... [2] https://yellow.com/news/stablecoin-giant-tether-slashes-trea...