The journalist who interviewed me for FarWest a few days ago asked me 36 minutes of questions to which he received extremely detailed answers. Only 2 minutes and 25 seconds were aired. Probably many of my answers were uncomfortable for those who finance the broadcast.
They missed an opportunity to educate viewers, but this is simply a reconfirmation of a trend that is increasingly working in Italy.
Topics:
- what is Tether USDt
- USDt and the financial inclusion of more than 400 million people left behind by the traditional financial system. Our users are people living in countries with extremely high inflation and extremely unstable currencies (Turkish lira, Argentine peso, ...). There is an infinite amount to talk about here. There are 3 billion people in the world living without access to a stable currency, and Tether is doing more than anyone else in bringing a real and tangible solution that already works for hundreds of millions of users.
- how we manage USDt reserves
- solidity of Tether (over-reserved) compared to banks that practice fractional reserve (on average 90%) putting depositors' savings at risk
- attestation of reserves (standard for every stablecoin), progress towards obtaining a full audit. Here I explained how we are working towards a full audit (publicly announced), but that our attestation is extremely detailed and independently validated (also by the American financial institution where the reserves are deposited, Cantor Fitzgerald). I also explained how the full audit is extremely important but not sufficient, many banks (Silicon Valley Bank, Credit Suisse, ...) were all audited. Tether has more reserves than the digital dollars issued, being in fact the first fully-reserved financial institution (and this annoys the traditional world because it shows that finance can be done without endangering its users)
- why we decided to give up on Europe. The journalist asks me a question (from someone who studied zero about Tether before requesting an interview, or documented themselves on "cioè" or "il fatto", probably with the same reliability): "is it true that Europe excluded you because you don't have an audit?". There I responded very detailedly about why we believe (not just us) that MiCA poses a systemic risk to European banking stability. So we preferred to protect our current users who use Tether USDt as the only stable currency option. I have been truly public countless times on the issue (many interviews and articles) but always happy to provide further clarifications. I gave many practical and tangible examples. This answer lasted quite a few minutes to fully elaborate the thought without misunderstandings
- and much more
I smile when I see online those who comment saying they are a consultant for the broadcast, all puffed up because "mom, I'm on TV", without realizing they lent their name to an act of journalism little interested in my answers (since little was actually included) but more interested in folklore and media propaganda.
So before attacking assuming I didn't want to answer the questions, it would be wise to ask why only 1/15 of the interview was aired. Not 70%, or 50%, or even 20%... They aired 6.6% of the interview.
Not to mention a single question of mine that demonstrated the lack of transparency of the interview... "100 million of..."?
Thanks instead to many who have opened their eyes. Bitcoin and Tether annoy those who are servants of the banks and the system.
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