For Every $1 of Tether There Are $0.03 In Cash

Tether has shared an asset breakdown with several crypto news outlets. (Archive) It has revealed to us that for every Tether in circulation on March 31st, 2021 they had approximately 3 cents. Obviously it is a little more complicated than that. We know they have to have something else in their reserves. So what is … Continue reading For Every $1 of Tether There Are $0.03 In Cash

The 2015 Bitstamp, 2015 Bitfinex, and 2017 Tether Hacks are Connected

Note: An earlier version of this article contained a version of this diagram with a minor typo. Acknowledgements: I would not have been able to complete this as thoroughly as I did without building off existing work. It needs to be pointed out that years ago u/SpeedflyChris (archive) pointed out these same connections. I also … Continue reading The 2015 Bitstamp, 2015 Bitfinex, and 2017 Tether Hacks are Connected