Gregory Pepin, deputy CEO of Deltec Bank and Trust, responds to allegations in a blog post by the pseudonymous Crypto Anonymous, that Tether is a "highly probably fraud." In this episode, he covers: <ul> <li style="font-weight: 400;" aria-level="1">how Deltec accounts for its reserves, and why they didn't show up on Crypto Anonymous's blog post</li> <li style="font-weight: 400;" aria-level="1">where the dollars backing Tethers are held</li> <li style="font-weight: 400;" aria-level="1">how Tethers get created</li> <li style="font-weight: 400;" aria-level="1">where Tether Ltd. keeps its cash equivalents</li> <li style="font-weight: 400;" aria-level="1">why there's more demand for trading with USDT than with USD partially because of the arbitrage opportunity between East and West </li> <li style="font-weight: 400;" aria-level="1">how Tethers get created using Deltec</li> <li style="font-weight: 400;" aria-level="1">why USDT gets minted in very round numbers as opposed to very specific numbers that USDC is minted in</li> <li style="font-weight: 400;" aria-level="1">where the cash equivalents backing Tethers are held</li> <li style="font-weight: 400;" aria-level="1">what type of due diligence Deltec conducted when it took on Tether Ltd. as a customer</li> <li style="font-weight: 400;" aria-level="1">why the perception that Tether is unregulated compared to other stablecoins is false</li> <li style="font-weight: 400;" aria-level="1">what Deltec thinks about the New York Attorney General office's investigation in to Tether</li> <li style="font-weight: 400;" aria-level="1">why Deltec has a "large position in bitcoin"</li> </ul>   Thank you to our sponsor! <a href="http://crypto.com/">Crypto.com</a>: <a href= "http://crypto.com/">http://crypto.com</a>   Episode links: Gregory Pepin: <a href= "https://twitter.com/dzrgreg">https://twitter.com/dzrgreg</a> Deltec Bank: <a href= "https://www.deltecbank.com/?locale=en">https://www.deltecbank.com/?locale=en</a>   Crypto Anonymous’s Medium post: <a href= "https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3"> https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3</a>   Deltec having large position in bitcoin: <a href= "https://www.theblockcrypto.com/linked/91353/deltec-bitcoin-position-tether"> https://www.theblockcrypto.com/linked/91353/deltec-bitcoin-position-tether</a>   Original video in which Deltec mentions its “large position in bitcoin”: <a href= "https://www.deltecbank.com/2021/01/14/a-covid-year-in-review/"> https://www.deltecbank.com/2021/01/14/a-covid-year-in-review/</a>   Deltec banking Tether: <a href= "https://www.coindesk.com/deltec-chairman-says-tether-letter-on-bank-relationship-is-authentic"> https://www.coindesk.com/deltec-chairman-says-tether-letter-on-bank-relationship-is-authentic</a>   Tether not audited: <a href= "https://www.coindesk.com/tether-review-claims-crypto-asset-fully-backed-theres-catch"> https://www.coindesk.com/tether-review-claims-crypto-asset-fully-backed-theres-catch</a>   Tether says it is fully backed: <a href= "https://www.coindesk.com/tether-says-its-stablecoin-is-fully-backed-again"> https://www.coindesk.com/tether-says-its-stablecoin-is-fully-backed-again</a>   Tether current balances: <a href= "https://wallet.tether.to/transparency?__cf_chl_jschl_tk__=c035d054dd287020b16d6dbb4b70398ca7a99dcb-1611253376-0-AcOsT0Zqpd8Muzw5gnkSz6KKmTrN3WAssxGX8K-p_PkeZ2SUfW9EsAr-a2EkIojYzm5-3RA_1DHxpoK579d0YgtnxMYevlVRSS7RIAKh0sgk-ORzOZUDNgg_AvZjugdrxWVjTA9dCBf1hX4X83oU3-RTjQYn_qYukdRFJUq9a89BXyyDovL3bu4ohxSSVdworOR-cdxEiPURe4ZJrGIvuW3Ej2qJLJt3RDXfX6BfDANdpkVrU6O2KB4V0Or-HJjItS0uAu-L7KrTomXNv9anUv34_An8cH3VHYfB_OD-iyIvkgOh7RHd-Xafe-SJwPnUYg"> https://wallet.tether.to/transparency?__cf_chl_jschl_tk__=c035d054dd287020b16d6dbb4b70398ca7a99dcb-1611253376-0-AcOsT0Zqpd8Muzw5gnkSz6KKmTrN3WAssxGX8K-p_PkeZ2SUfW9EsAr-a2EkIojYzm5-3RA_1DHxpoK579d0YgtnxMYevlVRSS7RIAKh0sgk-ORzOZUDNgg_AvZjugdrxWVjTA9dCBf1hX4X83oU3-RTjQYn_qYukdRFJUq9a89BXyyDovL3bu4ohxSSVdworOR-cdxEiPURe4ZJrGIvuW3Ej2qJLJt3RDXfX6BfDANdpkVrU6O2KB4V0Or-HJjItS0uAu-L7KrTomXNv9anUv34_An8cH3VHYfB_OD-iyIvkgOh7RHd-Xafe-SJwPnUYg</a>   What Tether is backed by: <a href= "https://wallet.tether.to/transparency?__cf_chl_jschl_tk__=c035d054dd287020b16d6dbb4b70398ca7a99dcb-1611253376-0-AcOsT0Zqpd8Muzw5gnkSz6KKmTrN3WAssxGX8K-p_PkeZ2SUfW9EsAr-a2EkIojYzm5-3RA_1DHxpoK579d0YgtnxMYevlVRSS7RIAKh0sgk-ORzOZUDNgg_AvZjugdrxWVjTA9dCBf1hX4X83oU3-RTjQYn_qYukdRFJUq9a89BXyyDovL3bu4ohxSSVdworOR-cdxEiPURe4ZJrGIvuW3Ej2qJLJt3RDXfX6BfDANdpkVrU6O2KB4V0Or-HJjItS0uAu-L7KrTomXNv9anUv34_An8cH3VHYfB_OD-iyIvkgOh7RHd-Xafe-SJwPnUYg"> https://wallet.tether.to/transparency?__cf_chl_jschl_tk__=c035d054dd287020b16d6dbb4b70398ca7a99dcb-1611253376-0-AcOsT0Zqpd8Muzw5gnkSz6KKmTrN3WAssxGX8K-p_PkeZ2SUfW9EsAr-a2EkIojYzm5-3RA_1DHxpoK579d0YgtnxMYevlVRSS7RIAKh0sgk-ORzOZUDNgg_AvZjugdrxWVjTA9dCBf1hX4X83oU3-RTjQYn_qYukdRFJUq9a89BXyyDovL3bu4ohxSSVdworOR-cdxEiPURe4ZJrGIvuW3Ej2qJLJt3RDXfX6BfDANdpkVrU6O2KB4V0Or-HJjItS0uAu-L7KrTomXNv9anUv34_An8cH3VHYfB_OD-iyIvkgOh7RHd-Xafe-SJwPnUYg</a>   New York Attorney General’s office press release on investigation into iFinex: <a href= "https://ag.ny.gov/press-release/2019/attorney-general-james-announces-court-order-against-crypto-currency-company"> https://ag.ny.gov/press-release/2019/attorney-general-james-announces-court-order-against-crypto-currency-company</a>   CoinDesk on NYAG investigation: <a href= "https://www.coindesk.com/bitfinex-ny-prosecutors-tether-850-million-allege"> https://www.coindesk.com/bitfinex-ny-prosecutors-tether-850-million-allege</a>   Link to the Crypto News Recap: https://unchainedpodcast.com/what-8-trillion-could-do-in-bitcoin/

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Is Tether a Fraud? Its Bank Says It's Not - Ep.161

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