The article highlights Tether’s funds distribution across multiple institutions and its reliance on commercial paper to back its stablecoin market cap. Documents from the New York Attorney General’s office offer insights into Tether’s asset storage locations, banking relationships, and asset management practices, amid ongoing concerns within the crypto community.
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Hong Kong and UAE Unite for Crypto Regulations: Opportunities and Challenges Ahead
Hong Kong and UAE authorities met to strengthen cooperation on crypto regulations, fostering a friendly environment for global crypto companies. They agreed to establish a joint working group on virtual assets and aim to make cross-border trade easier and secure.