Tether Financial Statements

 From: https://tether.to/ru/transparency/?tab=reports

As of 12/31/2024, Tether had liabilities of $136.6 billion, which is the amount of Tether outstanding.  "Tether tokens issued have been classified as refund liabilities in line with IFRS 9, which are repayable on demand, and are recorded at the contractual redemption value of the tokens."  I don't know what IFRS 9 is, but that is a topic of a different post.  And here are assets.

I like the transparency here.  I think the Federal Reserve has a competitor.

What is the official corporation behind Tether?  Tether Holdings, S.A. de C.V.  And where were they incorporated?  El Salvador.

Tether International is a Salvadoran company registered in El Salvador Commercial Registry and having its registered office in Edificio Torre Futura, Ocina 6, Nivel 11, entre 87 y 89 avenida norte, Colonia Escalón, San Salvador, El Salvador; is a Stablecoin Issuer authorized by the CNAD and Digital Assets Service Provider (DASP) authorized by the CNAD with the Registration Number PSAD – 0028. Tether International is wholly owned by Tether Holdings Sociedad Anonima De Capital Variable (“Tether Holdings” or “Tether Holdings, S.A. de C.V.”) and Tether Operations Sociedad Anonima De Capital Variable (“Tether Operations” or “Tether Operations, S.A. de C.V.”); both incorporated and in effect under the Laws of El Salvador, together with their Affiliates referred to herein as the “Tether Group”). 

https://tether.to/public/Relevant_Information_Document_-_Tether_International,_S.A._de_C.V..pdf

I intend to follow up with more posts about how El Salvador regulates cryptocurrency, and about cyptocurrency lending.