This Is What We Know About How Tether Works
Odd Lots
Bloomberg
4.4 • 1.6K Ratings
🗓️ 12 December 2022
⏱️ 55 minutes
🧾️ Download transcript
Summary
2022 has seen numerous crypto disasters, most notably FTX. Also the price of most coins has tumbled massively. One coin that's done fine is the stablecoin Tether, which is interesting, because its had so many naysayers for so long. There are even hedge funds who have bet on its implosion. But what is Tether? How does it work? And where does it come from? On this episode of the podcast, we speak with Bennett Tomlin, co-host of the Crypto Critics' Corner podcast, who has an encyclopedic knowledge about the company. He walks us through what we know about the entity, and its relationship with other entities in crypto.
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| 0:00.0 | As of 9-1-20-23, you may earn a 5.5% annualized yield with six-month T-bills of held to maturity. |
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| 0:24.1 | started. This is a paid endorsement by public.com, fees and conditions apply. Treasury accounts at |
| 0:29.3 | public.com are through Gico Securities Inc. Member Finra and SIPC. Not FDIC insured? No bank |
| 0:34.7 | guarantee. May lose value. Full disclosures can be found at www.public.com slash T-Bill podcast. |
| 1:00.2 | Because of all the dislocations, there's always relative value trades that you can be doing. |
| 1:04.4 | Subscribe to the tape today on Apple, Spotify, Bloomberg.com, or wherever you get your podcast. |
| 1:20.9 | Hello and welcome to another episode of the AdLots podcast. I'm Joe Weisenthal. |
| 1:26.2 | And I'm Tracy Alloway. Tracy, you know, one of the funny things, I guess. I don't know if |
| 1:30.5 | funny is the right word, but one of the funny things with crypto is that, you know, it's shocking |
| 1:36.3 | when a big entity like FTX collapses, and there have been other collapses as well. But on some level, |
| 1:44.3 | I don't think anyone really thinks anyone in this space is like, |
| 1:48.1 | blue chip or like completely legit, right? Like there's no one, there's no one in crypto that you |
| 1:53.6 | would like trust the way, like say you'd trust like putting your money at like JP Morgan or something. |
| 1:58.3 | I think that's true, but everything in crypto is kind of relative. So I have previously described |
| 2:04.5 | FTX as like the Microsoft of crypto exchanges because it was the one that people thought was kind |
| 2:11.7 | of best practice. And it had all these connections with traditional finance and Sandbateman freed, |
| 2:17.2 | was lobbying for stronger crypto regulation. And everything seemed kind of like up and up. And it |
| 2:22.1 | had this wonderful liquidation engine that everyone talked about. And clearly, clearly that wasn't |
... |
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