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This Week in Startups

Tether’s hidden billions with Bloomberg’s Zeke Faux + Startup Checklist E1 | E1300

This Week in Startups

Jason Calacanis

Technology

4.21.4K Ratings

🗓️ 8 October 2021

⏱️ 85 minutes

🧾️ Download transcript

Summary

First, Jason chats with Bloomberg reporter Zeke Faux about his latest investigative piece "Tether's $69 Billion Mystery"(1:04). Then, Jason launches our news series "Startup Checklist" (31:49) which explores the things you should do to be prepared to launch a company.

Transcript

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0:00.0

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0:03.0

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0:09.8

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0:13.6

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0:19.0

implementation pack at odoo.com slash twist, that's odoo.com slash twist.

0:27.7

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0:33.7

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0:38.3

Twist listeners can get $1,000 off for a limited time at vanter.com slash twist.

0:45.4

And LinkedIn Marketing.

0:47.9

To redeem a $100 LinkedIn ad credit and launch your first campaign, go to LinkedIn.com slash checklist.

0:56.4

That's LinkedIn.com slash checklist.

1:01.1

Alright, more information is coming out from the fine work of investigative business journalists.

1:08.1

As you know, Tether is a stable coin.

1:10.1

What's a stable coin?

1:11.2

It's a type of cryptocurrency where the price of the coin stays stable.

1:16.3

One Tether or one US DC should equal $1 in American currency, US dollars.

1:24.8

So there has been quite a controversy because Tether has become so big.

1:29.6

It's one of the top five to 10 crypto projects in terms of market cap.

1:33.7

It's got a market cap.

1:35.1

That's been over 60 billion and they were supposed to be, as we all know, back to one to one with dollars.

1:42.9

And it turned out they were changed that rule and they were backed maybe three or four percent by dollars.

1:48.4

Where's the other 90 percent?

...

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