{"id":51504,"date":"2021-10-20T16:16:29","date_gmt":"2021-10-20T13:16:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51504"},"modified":"2025-09-03T00:04:28","modified_gmt":"2025-09-02T21:04:28","slug":"hindenburg-research-offers-1-million-bounty-for-information-on-tethers-collateral","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/hindenburg-research-offers-1-million-bounty-for-information-on-tethers-collateral\/","title":{"rendered":"Hindenburg Research offers $1 million bounty for information on Tether&#8217;s collateral"},"content":{"rendered":"<p>Hindenburg Research, the investigative firm, has offered a $1 million reward for disclosure of previously unknown information about the collateral backing the stablecoin Tether (USDT).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We have doubts about the legitimacy of Tether, so today we announce the Hindenburg Tether Bounty Program, a reward of up to $1,000,000 for details on Tether\u2019s backing.<\/p>\n<p>(1\/x)<a href=\"https:\/\/t.co\/DP5dWDcYmJ\">https:\/\/t.co\/DP5dWDcYmJ<\/a><\/p>\n<p>\u2014 Hindenburg Research (@HindenburgRes) <a href=\"https:\/\/twitter.com\/HindenburgRes\/status\/1450562260993298433?ref_src=twsrc%5Etfw\">October 19, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The company described Tether as a &#8216;key element of the multi-trillion-dollar cryptocurrency market,&#8217; but questioned the legitimacy of its collateral.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u2018Despite numerous regulatory sanctions due to doubts about the veracity of disclosed collateral information and a market capitalization of $70 billion, Tether continues to refuse to provide transparency of its assets,\u2019 the statement said.<\/p>\n<\/blockquote>\n<p>According to Hindenburg Research, Tether claims to hold a substantial portion of its assets in commercial paper but does not disclose information about counterparties.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u2018We believe that Tether should fully and thoroughly disclose its assets to the public,\u2019 said Nathan Anderson, founder of Hindenburg Research.<\/p>\n<\/blockquote>\n<p>The company noted that it does not hold long or short positions in Bitcoin, USDT or other cryptocurrencies.<\/p>\n<p>Earlier Bloomberg <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-finds-chinese-commercial-paper-in-tethers-reserves\">discovered<\/a> bonds of Chinese companies in Tether&#8217;s reserves.<\/p>\n<p>Earlier, in October, the U.S. Commodity Futures Trading Commission ordered Tether and Bitfinex <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-orders-bitfinex-and-tether-to-pay-civil-penalties-totaling-42-5-million\">to pay penalties of $42.5 million<\/a>.<\/p>\n<p>In September, SEC Chair Gary Gensler <a href=\"https:\/\/u1f987.com\/en\/news\/gensler-calls-stablecoins-poker-chips-in-a-wild-west-crypto-casino\">called stablecoins poker chips<\/a> in the cryptocurrency casino.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hindenburg Research, the investigative firm, has offered a $1 million reward for disclosure of previously unknown information about the collateral backing the stablecoin Tether (USDT).<\/p>\n","protected":false},"author":1,"featured_media":51505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1245],"class_list":["post-51504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51504"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51504\/revisions"}],"predecessor-version":[{"id":51506,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51504\/revisions\/51506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51505"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}