A Doomsday Scenario for Tether

Doing the Math on Tether: An Update

Investing Legal Other

This is a quick update, If I screw something up please tweet me and tell me what to fix at @LetsEarnBTC . I needed to get this out so please forgive the choppy writing. This is extracted from a message I wrote to some friends about this. It will be expanded as more information develops

Tether last released their redacted report in September 2017. Their Supply at that point accounted for was $442,984,592. At the time of the hack in November around the 19th, there was $644,841,161 making a difference of $201,856,569 in total circulating supply and continuing since the day of the hack there has been continued issuance to the current peak of $814,393,348.25
Making the total unaudited funds that appeared without a clear statement or proof of solvency at $371,408,756.25.

Now normally there would be some leeway on this kind of thing but that’s a growth of 169,552,187.25 in the days following the hack.

A public release of audited information needs to be released for proof of solvency to be determined.