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Tether has refused to disclose details on its $40bn hoard of US government bonds for fear of revealing its “secret sauce”, even as one of the world’s most important crypto assets comes under strain from heavy selling pressure.
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“This is information that is privileged . . . we don’t want to give our secret sauce,” he said in an interview with the Financial Times. “Our counterparties are not public. We are not a public company. So we keep that information [to] ourselves, but we are working with many big institutions in the traditional financial space.”
https://www.ft.com/content/5887ef43-d43a-4608-a1ac-aacc99f076b9?stream=business
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