Tether sister company Bitfinex shareholder Zhao Dong announced. It is well known that iFinex in 2018 is the Panama Pay System Crypto Capital Corp. has given $850 million to meet the withdrawal requirements of Bitfinex customers.
However, after the agreement was signed, U.S., Polish and Portuguese officials confiscated the funds.
Tether will produce stable commodity-based coins, including assets such as gold, crude oil, and rubber, to offset the risks posed by large holdings of large amounts of money in a single asset. In addition, the company plans to produce stable coins under the meta.
The coin, called CNHT, will be held at a Belgian bank and will be on the market within weeks.
Tether’s cryptocurrencies currently include only EURTs linked to USDT and USD.
The offshore renminbi will be Tether’s third fixed-price password. “CHNT will not conflict with the central bank’s capital control system, ” Dong said. Because CNH (offshore RMB) is different from the RMB (RMB) because it is an offshore product.
Tether plans to issue commodity-based coins, the encryption industry’s leading stable coin, with market size of $4 billion, but no equivalent to a dollar. According to court records, only USDT%72 is based on US dollars, but Dong doesn’t think so: ‘$4 billion of $33.5 billion is held as bonds. 650 million was lent to Bitfinex.
Bitfinex, which earned $100 million from LEO token sales, is now paying Tether’s debt.
However, Bitfinex plans to recover its frozen funds at Crypto Capital Corp. before all debt is repaid. Dong, even if you don’t consider the remaining 650 million in ‘Bitfinex’, the reserve’s dollar equivalent is 83,75. %72 news is fake.