Alameda Research Reveals Tether Records

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One of the biggest crypto market maker founded by Sam Bankman-Fried, Alameda Research, has been minting and redeeming tether for years. “I’ve been minting/redeeming USDT on an institutional scale for over 3 years with multiple desks!” – said Ryan Salame, Head of OTC at Alameda Research, before adding: “While admittedly I’ve done far more mints than redemptions, below you’ll find all USDT redeemed in my current role. Note the process has always been smooth.” The tokenized dollar, tether, is nearing a market cap of $22 billion with it pioneering what is now becoming a hot topic: stablecoins. The Office of the Comptroller of the Currency (OCC) has called them a growing trend, in addition to stating: “A bank may use stablecoins to facilitate payment transactions for customers on a [blockchain], including by issuing a stablecoin, and by exchanging that stablecoin for fiat currency.” Tether began doing so in 2015, picking…

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