“Tether is confident in the “simple” adaptation to the rules of circulation of steiblcoins in the United States and does not agree with the conclusions of JPMorgan analysts about the need to sell bitcoins. The Block has declared this CEO USDT Issuer Paolo Adolyo. On February 13, the bank experts stated that the company would face the need to sell bitcoins to comply with US law. Tether currently owns 83 758 BTC (~ $ 8.04 billion). Expert conclusions are based on the law proposed in the House […]”, – WRITE: Businessua.com.ua
Tether is confident in the “simple” adaptation to the rules of circulation of steiblcoins in the United States and does not agree with the conclusions of JPMorgan analysts about the need to sell bitcoins. About this the Block declared CEO Issuer USDT Paolo Adolyo.
On February 13, the bank experts stated that the company would face the need to sell bitcoins to comply with US law.
Tether currently owns 83 758 BTC (~ $ 8.04 billion).
Experts’ findings are based on the law on transparency and accountability of stablcoins for a better economy on the basis of spreadsheets (Stable) and the law on management and creation of national innovations for American “stable coins” (Genius) in the Senate.
Documents provide use US Treasuries and other liquid and reliable assets. Only 66% -83% of USDT reserves, according to JPMorgan, meet these criteria.
In addition to the first cryptocurrency, Tether may have to get rid of gold, corporate bonds and secured loans.
According to Ardoino, “harmful” analysts did not take into account the capital of the company.
“Even the most extreme JPMorgan scenario does not take into account the fact that the issuer’s own funds exceed $ 20 billion in other liquid assets and generates more than $ 1.2 billion in the quarter at the expense of Treasury bonds,” he explained.
Ardoin refrained from a direct answer to the question of the need to sell digital gold.
JPM Analysts Are Salty Because they don’t own bitcoin.
– Paolo Ardoino 🤖🍐 (@paloardoino) February 13, 2025
“Tether analysts say that JPM does not have enough bitcoins,” he wrote.
The CEO of the company explained that the organization “closely monitors the development of legislative initiatives and interacts with regulators.”
Recall that 2023 Tether announced regular investments in the first cryptocurrency.
In February 2024, the company announced plans for the creation of a Bitcoin Hamane.
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