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In few minutes Tether will coordinate with a 3rd party exchange to perform a chain swap, converting from Tron to Ethereum ERC20, for 1.25B $USDt.
The #tether $USDt total supply will not change during this process.
Learn more about chain swaps
https://t.co/abfgnELSvi
Today is a good day at @tether .
It started with an attack (that didn't have much power anyway and it's dying off already). This attack is a good stress test for us, nothing more. We'll demonstrate, as we did several times in the past, that Tether is strong, liquid and ready to protect its community.
But the day is ending with a positive note. Tether decided to drop its opposition in the FOIL matter (the old CoinDesk thingy from 2021).
Why?
Because transparency matters.
And in this period, more than ever, after so many failures, uncertainty, doubt, our industry needs to have stability and reassurance.
Tether doesn't have anything to hide. Never had.
And today Tether is also stronger than ever.
Indeed in the past we wanted to ensure proper ring-fencing of our private information (being Tether a private company), but that information is now much less relevant (it's only referred up to mid-2021) and yet confirms our public statements and disclosures, including the good standing of our bank accounts.
"Forever trusting who we are
And nothing else matters"
Enjoy the read below.
Tether raises the bar of transparency in the industry, dropping its opposition in the FOIL matter. In moments of global financial uncertainty, like the current one, we believe it's important to give a strong signal to our community. Prioritizing openness, stability and liquidity is at the core of Tether. Thank you everyone for your support in our journey. https://t.co/RR6RFRIOSm
In few minutes Tether will coordinate with a 3rd party exchange to perform a chain swap, converting from Tron to Ethereum ERC20, for 750M $USDt.
The #tether $USDt total supply will not change during this process.
Learn more about chain swaps
https://t.co/abfgnELSvi
🌐Tether: Pioneer of stablecoins, revolutionising global finance. Promoting inclusion, resilience, and growth. 🌱
#Bitcoin mining, renewable energy, P2P comms.
💰 Record expansion drives the mission.
Learn more 👉: https://t.co/vZjrYrdDAS
📣 New Speakers Announcement! 📣
#JulianAssange's Family will join Plan ₿ Forum to discuss freedom and freedom of speech!
Meet Stella Assange, Gabriel Shipton and John Noble Shipton in Lugano on October 20-21.
Learn more 👉 https://t.co/Y5JWsrnhwK
#LuganoPlanB
Tether is expanding its energy investments, providing capital, tech expertise and advisory to the new venture Volcano Energy🌋
The potential of El Salvador 🇸🇻 as the global energy and #bitcoin hub is immense and at @tether we're grateful to be part of this opportunity ❤️
Tether is diversifying its business lines becoming a leader in energy and communications infrastructure 🍐🍐 alongside our core stablecoins business $USDt
🍊⛏️
Notes:
- El Salvador is the #bitcoin nation
- Follow @JosueLopezGal , Volcano Energy CEO and @maxkeiser , venture's Chairman
- This initial round of capital raise for Volcano Energy is 250M.
- The target of Volcano Energy is to raise 1B to build one of the most powerful energy production and #bitcoin mining facilities in the region.
- Tether is one of the investors of this round.
- The current size of our capital investment in Volcano Energy is contained, being well within its own excess reserves, so it's not taken from the reserves backing the issued tokens.
As a reminder, Tether excess reserves are company's own profits, not yet distributed to shareholders, and they are on top of the 100% minimum liquid reserves that the company holds to back all issued tokens. Company's own excess reserves accounted for ~2.5B USD equivalent at the end of Q1/2023. The size of these reserves have kept growing since then.
Tether shareholders decided to keep such large excess reserves within the company to further demonstrate stability to Tether's users 💪
- We keep building 🛠️
Tether Energy is doubling down on #bitcoin with our investment into Volcano Energy in El Salvador 🌋🇸🇻 We're fueling sustainable Bitcoin mining and supporting El Salvador's economic growth🍊⛏️
Learn more 👉 https://t.co/PlJ2yRhPR8
I'm really proud that @LuganoPlanB is sponsoring again @FCLugano1908 for the Swiss Cup final ⚽️🇨🇭!
Last year Lugano's FC won the football cup with PlanB's logo on their back!
Excited to see it happening again! LFG LFC!
#bitcoin logo will be seen by millions of people on TV!
Awareness, sports, passion, dedication and love.
It is so humbling to witness #tether $USDt growing to all-time-high, surpassing $83.2B.
We, at @tether, are strongly committed to growing a strong, resilient and powerful financial, communications and energy ecosystem that leverages our cutting-edge tech.
Peer-to-peer communications, #bitcoin , stablecoins, renewable energy production, ... are all part of our exciting past, present and future story.
Tether expands its presence in Georgia🇬🇪
We have invested in https://t.co/14g9wt7PCC, a leading local payment processing company. You can now pay with #USDt and #Bitcoin in over 600 shops, hotels, and restaurants.
Learn More 👉 https://t.co/WjrOAymJRv