Zeke Faux, a Bloomberg journalist, has published an article in which he accuses Giancarlo Devasini, chief financial officer of Tether, of having used the reserves at the base of USDT to make investments.
Tether called the report a “tired attempt” to denigrate the company, based on innuendo and misinformation. The stablecoin issuer also questioned the credibility of Faux’s sources, stating that it is an attempt to discredit Giancarlo Devasini and the executives of Tether, and continuing to argue that its USDT tokens are fully supported, citing quarterly warranty reports.
In February, Tether and Bitfinex agreed to pay New York State $ 18.5 million in damages and provide extensive reports on its finances, as part of a deal with the New York Attorney General’s Office: The Revision most recent dates back to 30 June. Some authorities argue that Tether has falsified the degree of fiat collateralization of its USDT tokens.
