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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Tether declines to reveal details on $40b Treasury cache after dollar peg snaps
“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.”
