The recent HTX sanctions were absolutely devastating for the exchange.
There's ~5mil $ USDT left on the exchange, lol.
I guess Justin Sun got to sell some TRX now to fulfill withdrawals or soon come up with some bullshit why people cant withdraw their money🙃
If Tether's Q1 profit is 1.03Bil. $ and excess reserves went from 6.3Bil. $ to 8.2Bil. $ then this theoretically means tether topped up its excess reserves with ~1Bil. $ from outside (for the first time?!).
lets see how long they can do that 🙃
this is only an estimation and does not take other assets value or amount changes in between attests in consideration, so take it with a grain of salt.
calculated the theoretical profit/loss of the tether reserves quarter over quarter with the last attest data and current bitcoin & gold prices and it's not looking good this quarter🙃
Calc is basically latest gold/btc amount * gold/btc price chart. Other assets value are measured as unchanged since last attest. I excludes their public equity, which also is btc / gold related, so its even worse.
@crypto1nfern0 Also usd borrowed to long btc/usd pair on bitfinex at all time high, currently 5.6B $ 👀
It's wierd that that usd borrowed isn't higher, given that btc longs went up alot the past 3 weeks...
who the fuck borrows 5.6 Bil. USD with 14% interest😂
HTX, which actively advises users to use a vpn to access its platform and circumvent banns is also not adhering to sanctions...im shocked!
https://t.co/9IRu5Np1nS
Tether's sister company Bitfinex is still not complying to EU regulations in 04/2026 and people trust these people with 190.000.000.000$ ?!🤡
not MiCa compliant:
❌Bitfinex
❌HTX
MiCa compliant:
✅Binance
✅Coinbase
✅Kraken
✅Bybit
✅OKX
✅Gate. io
✅Crypto. com
@Protos
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@RhoRider who would have thought day trading gold was a bad idea...
they are lucky gold recovered somewhat from a week ago else their attest due today would look really bad.
will still be worst (unrealised) loss QoQ ever in tethers history tho.
Trump's family Bitcoin mining company "American Bitcoin" is down 94% from its peak.
If you invested $10K in $ABTC 7 months ago, it's worth just $600 now.
Enjoy!
@astronaut_eth ye before 2023 it was low (i believe ~1% above liability's) but back then they mostly collected interest, now the reserves consists of very volatile assets like gold & btc, which is insane for a stablecoin reserve.
with btc and gold down bad this quarter tether's next attest will look extremely bad.
it will be the biggest excess reserve decline in its history, by my estimates/calc's & current gold prices they are now at ~3.5B. $, down from 6.3B. $ 🙃
Bitfinex/Tether are still not complying to EU's Crypto regulations in 2026 by allowing EU residents to still trade Tether and other restricted coins on Bitfinex.🚩
https://t.co/30qlN9R7ha