The Genius Bill that was signed today requires stablecoin issuers to undergo regular audits, well all know Tether is shady in the way they keep minting USDT, how will Tether pass these audits?

>>60653580 (OP)
>Tether FUD

>>60653580 (OP)
You know tether is making so much money doing nothing but just buying and holding treasuries with their reserves? They have already filled the hole that they might have had when they faked purchases to mint.

>>60653597
I highly doubt Tether can prove a 1:1 backing.

>>60653580 (OP)
Tether = USDT
USDT = The Department of the Treasury (USDT)[2] is the national treasury and finance department of the federal government of the United States. .....responsible for printing all paper currency and minting coins.

now you know why they are untouchable.

>>60653626
Tether is owned by some italian guy...has nothing to do with the Treasury Department.

>>60653580 (OP)
Nocoiners have been preaching the imminent Tether collapse for years; i wonder what the new cope will be when nothing happens?

>>60653817
This time an actual law passed that requires regular audits...you really think Tether can pass those audits?

>>60653980
Tether will be fine. Paulo was there and literally got a shout-out from Trump. They will tweak the way they do business in the US.
This legislation is for institutions to get started with their stablecoins.

>>60653998
So it looks like Tether has a little over 120 billion in US Treasury Bills, whilst the USDT marketcap is 160 billion...this means that USDT almost has a 1:1 backing right?

>>60653597
Tether is only ~85% collateralized by treasuries, the rest are in BTC, Gold, and "secured loans". There are essentially two options for Tether, either exit the American market (which they effectively already have since they don't allow non-authorized Americans to redeem or mint USDT) or sell their BTC and Gold and move their "secured loans" into treasuries. Considering Tether's primary markets are CEXs and overseas settlements plus DeFi on ETH and TRX, chances are they will pick the path of least resistance and exit the American market.

>>60653698
fact is you dont know who owns it, you only know some public actors that they put up as a front.

>>60654049
>exit the American market
This would devastate bitcoin

>>60654049
What the name for this type of shilling? Where you open up with a bunch of 102 facts then pivot into your retarded thesis?

Nvm I found it, its called marrying a truth with a lie, very common in marxist dialectics

>>60654033
At the end of the day, they have maintained the peg for almost a decade so who cares. I used to get caught up in tether fud but at this stage don't care. Obviously some shady stuff but damn they're resilient

>>60654124
Why? Tether exiting the American market doesn't mean they go bust, USDT will survive and grow to $300B this year. This bill is more of a victory for USDC, USD1, and the stablecoin JPM wants to release in the future, it doesn't really change Tether's future since their market is not in America.

>>60654155
If they exit American markets wouldn't it cause a bank run? They are soft-admitting that they don't have 1:1 backing.

>>60654161
No, I don't see why it would cause a bank run (and even if it did Tether is well collateralized to handle one, despite all the FUD). The main concern is losing the American CEXs, like Coinbase and Kraken.

>>60653580 (OP)
>Tether is shady in the way they keep minting USDT
are you fucking retarded?
they're the largest private holder of US treasuries on the planet
>>60653601
>I highly doubt Tether can prove a 1:1 backing.
bro, you can't FAKE HAVING US TREASURIES LMAO
are you fucking stupid?

>>60653597
Why would anyone hold their shit in tether when USDC offers interest and less fees.

>>60654493
Coinbase offers interest on USDC, Circle doesn't and now by law cannot offer interest.

>>60654493
>>60654542
aave has 4% for usdc

>>60654969
This is crypto bro im gonna need at least 14% to compensate the risk

>>60654219
>you can't FAKE HAVING US TREASURIES LMAO
Maybe but it still seems shady to me

>>60654969
To quote the law,
"No permitted payment stablecoin issuer or foreign payment stablecoin issuer shall pay the holder of any payment stablecoin any form of interest or yield (whether in cash, tokens, or other consideration) solely in connection with the holding, use, or retention of such payment stablecoin."

AAVE and Coinbase are not permitted stablecoin issuers so there is no prohibition of interest on them, whereas Circle will be one so they will be unable to offer interest on USDC.

>>60653580 (OP)
Won't tether just do what they need to do to become compliant?

Be a bank. use own reserves of 1B to print stable coins for yourself. now you have 1B in reserves generating 4% yield and you have 1B in liquid stablecoins. since there are many entities who can issue the stablecoins it becomes easy for the said bank to swap their liquid stablecoins to other entities printed stablecoins. you could simply swap all of them with different entities to reduce risk like 10% with each. now you have 1B in different stablecoins, since all stables need to have 1:1 backing you go and redeem them add the dollars you gained back to your reserves and print more stablecoins since you have the backing for it from the reserves - now you have 2B in reserves generating 4% yield and 1B in liquid stablecoins that you yourself control rinse and repeat the steps. infinite money loop. if someone of the entities you traded with wants to redeem then you still have the backing in reserves all the time to honor it but since you minimized the risk traded in decentralized market places etc its unlikely to have to redeem most of them.

Or. you have 1B in reserves generating 4% yield and 1B in stablecoins. you add the said stablecoins into defi to generate more yield, you are now doubletipping with your capital to generate double yield.

>>60656724
assuming they can. If they start getting audited it might prevent them from printing money out of thin air to buy assets with.

>>60653588
This.
google tether and cantor fitzgerald. See how the US commerce secretary setup that relationship, see tether investement in US companies.
tether is grease that nsa/cia uses to move money.
most importantly, tether is a top 10 buyer of US treasuries currently holding some 130B of this.
The world wants dollars, all other local currencies are dogshit wrapped in catshit. Tether is the way the entire secondary economy of the planet runs, and the US government NEEDS this to be the case and Tether is that vehicle.
there is no case for US DOJ/SEC etc to fuck with Tether, they are just to good for the US.
Also, within 2 years, Tether inc will be trading on the nasdaq, screen cap this.

>>60654049
Your conlcusion is retarded. Tether will become a US operation, gauranteed.

>>60656772
>you are retarded
>will become
kek

>>60653580 (OP)
> Laugh in Usdc

>>60657834
The issue is, if Tether is not able to comply, then they will be booted from US markets and lose credibility. Nearly 90% of btc trading volume is via USDT and it can be argued that btc only reached six figures because of tether, if that were to go away, btc would crater and kill the entire space as nobody would ever want to touch anything crypto related ever again.

>>60658005
Fud.
You aren't getting it.
Also, I stand corrected, tether is now the #4 buyer of us treasuries.
They will never not pass an audit, never, they are simply to important, and the government will give them every opportunity to succeed.

>>60653601
They only need to prove this for American markets. They'll probably make a separate token for that and use it for remittances. They don't seem very happy about having to comply though which is interesting.

>>60658732
So looks like Tether is making a US only version of USDT...similar to how Binance made a US only version of Binance...how does this change things?

>>60658767
https://www.coindesk.com/policy/2025/07/18/tether-ceo-says-he-ll-comply-with-genius-to-come-to-u-s-circle-says-it-s-set-now

That’s it im shorting tether

>>60658713
>tether is now the #4 buyer of us treasuries.
Does this mean Tether is just buying large amounts of SGOV?