Report: Only 5% of existing theaters have “cash” support

Recent reports from Teter’s reserve reserves show that only $ 4.187 billion of the $ 78.67 billion that Tetra has set aside to archive its tokens are in cash and bank deposits. However, reports confirm that the value of Tetra’s reserves is greater than the amount the collection must set aside to maintain its tokens.

According to the Quinn Telegraph, Tetra traded its reserve securities between September and December (September to December) last year, down more than a fifth, from about $ 30.5 billion to $ 24.16 billion.

According to an agreement reached by the court with the court in February 2021, Tiger is legally obliged to submit a report on its secured reserves every three months. According to the deal, a New York court fined Tetra $ 18.5 million. Teter Group has previously been accused of exposing some support for Fiat for its tokens in 2017 and 2018.

The latest certificate from the company was provided by MHA Cayman accountants working in the Cayman Islands, who analyze the reserves supported by Tetra from December 31, 2021.

The report states that “the value of consolidated assets is higher than the value of consolidated liabilities”; However, this difference is insignificant. Tetra’s total assets are estimated at $ 78.67 billion, while its liabilities are estimated at $ 78.53 billion. “Debt” here refers to the support that Tetra must provide to keep the price of its tokens stable.

Tetra’s stock structure has changed significantly since its previous report in late September; The value of cash and bank deposits fell 42 percent to $ 4.187 billion, while the value of money market investment fund reserves rose 200 percent to $ 3 billion. Teter government bonds rose 77.6 percent to $ 34.52 billion.

The significant amount of trading securities backed by Tetra’s reserves, which rose to 65.39% by May 2021, drew criticism from observers who questioned the lack of transparency about the origin of the securities and their credibility as an investment. Also last year, despite opposition from Tetr, there were fears that the company could be exposed to the group’s financial crisis by holding securities of the Chinese Evergrande Institute.

Large companies often issue securities to raise the funds needed to pay off their short-term salaries and debts. These bonds are also known as “unsecured debt” because they are not usually backed by any form of collateral.

Tetra confirms that $ 13.93 billion of its securities have a 90-day maturity. In addition, $ 9.94 billion in Tetra bonds have a maturity of 91 to 180 days and $ 823 million between 181 and 365 days. Any commercial bond with a maturity of over 270 days (9 months) must be registered with the US Securities and Exchange Commission.

According to Coingecko, Tetra’s market value was $ 79.47 billion at the time of writing, and its biggest competitor, USD Coin, is worth about $ 52.7 billion.

Publication Report: Only 5% of existing Tetris have cash support appeared first in digital currency.

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