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Tether bought commercial paper from subsidiary of alleged terrorist-linked bank

Tether apparently bought nearly $50M worth of commercial paper from a subsidiary of Masraf Al Rayan, a bank fined $4M by the FCA.

Here’s what new Tether documents reveal about its reserves

Documents obtained by CoinDesk and Bloomberg shed additional light on Tether reserves, showing the issuers of its commercial paper.

With BUSD’s market cap at $4.5 billion, it looks to be just a matter of time before the former top-three stablecoin vanishes completely.

Justin Sun-linked stablecoins, including TUSD, have been struggling amid rumors that Prime Trust had paused minting and redemptions.

Tether is following in the footsteps of Bitfinex operator iFinex, which has previously invested in bitcoin mining efforts led by Blockstream.