Analytical firm Hindenburg Research,specializing in financial investigations, will pay $ 1 million for information on the reserves of the USDT stablecoin from Tether. Analysts reported this on their official website.
As stated in Hindenburg Research, Tether does not tell the whole truth, and the available information is opaque:
"The company claims to hold a significant portion of its reserves in commercial paper, but discloses virtually nothing about its counterparties."
Hindenburg Research notes that mostUSDT's collateral consists of commercial paper, but experts have found that no major trading firm has ever seen the assets that they owned in Tether.
“We strongly believe that Tether shouldfully and thoroughly disclose their assets to the public. In the absence of such disclosures, we are offering a $ 1 million reward to anyone who can provide us with exclusive information on Tether's estimated holdings, ”said Nathan Anderson, founder of Hindenburg Research.
At the time of this writing, there is no way in Tetherdid not officially comment on the Hindenburg Research initiative. The announcement of the financial reward comes after the United States Futures Trading Commission fined Bitfinex and Tether a total of $ 42.5 million.
It is reported that the company Tether, introduced inmisconceptions by false claims that USDT was "fully backed by US dollars." Bitfinex must pay a $ 1.5 million fine for non-compliance with regulatory requirements.
The regulator also ordered the crypto exchange to implementadditional systems to prevent illegal retail commodity transactions. The market capitalization of USDT at the time of writing is $ 70 billion.
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