{"id":29998,"date":"2022-06-15T07:27:36","date_gmt":"2022-06-15T11:27:36","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=29998"},"modified":"2022-06-15T07:27:46","modified_gmt":"2022-06-15T11:27:46","slug":"tether-denies-rumors-about-its-reserves-three-arrows-connection","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/tether-denies-rumors-about-its-reserves-three-arrows-connection\/","title":{"rendered":"Tether Denies\u00a0Rumors About Its Reserves, Three Arrows Connection"},"content":{"rendered":"\n

Tether<\/a> has condemned the false rumors regarding the portfolio of commercial papers and also connection with Three Arrows<\/p>\n\n\n\n

\"Tether
Tether Denies\u00a0Rumors About Its Reserves, Three Arrows Connection<\/figcaption><\/figure>\n\n\n\n

Tether denies rumors about its reserves<\/h2>\n\n\n\n

Tether, the issuer of one of the most popular stablecoins (USDT), denied rumors about the portfolio of commercial papers<\/a> that make up USDT's covering reserves today, June 15. Tether also stated that it had no exposure to Celsius, a CeDeFi platform, or Three Arrows Capital, a crypto hedge fund (3AC).<\/p>\n\n\n\n

Tether's commercial paper portfolio, according to the speculations, contained roughly 90% of Chinese and other Asian securities and traded at a 30% discount due to market conditions, which the business later disputed. <\/p>\n\n\n\n

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2\/
It's insane how much FUD is spread by hedge funds interested to cause was further hell to make some extra bucks.

Pay attention and always ask yourself: who benefits from this<\/p>— Paolo Ardoino \ud83e\udd16 (@paoloardoino) June 15, 2022\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/blockquote>

The rumors were rejected by Tether and its spokesman, Paolo Ardoino, who described it as an attempt to spread panic, uncertainty, and dump.<\/p>\n\n\n\n

Tether has reduced nearly half of its commercial paper reserves since March 31, according to Ardoino, with only $8.4 billion remaining at the end of June. He also claimed that the company's commercial paper exposure will be steadily decreased to zero in the future.<\/p>\n\n\n\n

Three Arrows connection is also a false rumor<\/h2>\n\n\n\n

The rumors about Three Arrows Capital<\/a> are likewise completely false. Remember that the Three Arrows Capital fund is at risk of large ETH liquidation as a result of a hypothetical attack.<\/p>\n\n\n\n

Three Arrows has been consistently unloading stETH for the past month, according to on-chain statistics. The\u00a0venture capital firm<\/use><\/svg><\/span><\/a>\u00a0now looks to be putting the ETH it has obtained into AAVE and Lido loan pools.<\/p>\n\n\n\n

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The address marked as Three Arrows Capital has a collateral position of 211,999.12aWETH (worth $235 million) on Aave V2 and a total debt of $183 million USDC+USDT. If ETH falls near $1014, the collateral position will face liquidation. It is actively repaying the debt now.<\/p>— Wu Blockchain (@WuBlockchain) June 15, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

3AC has lost more than $30 million on Bitfinex trading in May alone, according to the Bitfinex leaderboard, falling out of first place on the platform. The fund lost over $40 million during the year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tether has condemned the false rumors regarding the portfolio of commercial papers and also connection with Three Arrows Tether denies rumors about its reserves Tether, the issuer of one of the most popular stablecoins (USDT), denied rumors about the portfolio of commercial papers that make up USDT’s covering reserves today, June 15. Tether also stated […]<\/p>\n","protected":false},"author":29,"featured_media":30012,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[9919,1708],"class_list":["post-29998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-tether-news","tag-three-arrows-capital"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-124.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=29998"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/30012"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=29998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=29998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=29998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}