DeFi Sparks Podcast

Tether USDT Financial Reports Explained & Analysed w 0xSouvlaki BeethovenX

November 28, 2022 Nick Drakon, Souvlaki Episode 13
DeFi Sparks Podcast
Tether USDT Financial Reports Explained & Analysed w 0xSouvlaki BeethovenX
Show Notes Chapter Markers

Souvlaki is the Head of Financial Reporting at BeethovenX, a decentralized exchange that runs on both Fantom and Optimism. Before moving to DeFi, Souvlaki spent a decade working at two of the Big Four auditing firms, and another five years at one of the largest TradFi investment banks in the world.

Souvlaki's experience makes him the perfect individual to provide insights regarding Tether in the context of the ongoing controversy that surrounds them and their stablecoin, USDT, with respect to the recent issues of financial disclosures or lack thereof. In today's episode, Souvlaki and I dive in to uncover some the following topics:

► Souvlaki's experience and misconceptions around auditing
► Tether's background and the USDT controversy
► Tether's disclosures and reports
► How to digest information from these reports with respect to the landscape post-FTX collapse
► Our thoughts on Proof-of-Reserves and the other disclosures investors need

🔗 Useful Tools 🔗

Ledger Hardware Wallet 👉 https://bit.ly/3hMmR3T

🔗 Useful Links 🔗

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Defi Sparks Podcast 👉 https://www.defisparks.com/

Souvlaki Twitter 👉 https://twitter.com/0xSouvlaki
Tether Reports 👉 https://tether.to/en/transparency/#reports
Beethoven X Video 👉 https://www.youtube.com/watch?v=P84DYOiTfIM
Beethoven X App 👉 https://beets.fi/
Beethoven X Twitter 👉https://twitter.com/beethoven_x

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📜 Disclaimer 📜

This video is for informational purposes only. Nothing contained shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial adviser or registered investment adviser. Trading cryptocurrencies poses considerable risk of loss. 

#tether #usdt  #BeethovenX #Beethovenftm #BeethovenFantom #beets #beetswars #beetsftm #beetsfantom #fantom #ftm #nickdrakon #defisparks #defi #crypto #stablecoin #revelointel 

Intro
Introduction to Souvlaki
Souvlaki's work in financial reporting & auditing
Misconceptions around auditing
Tether USDT background + context
Tether's reduction in commercial paper
Tether's Limited Assurance Engagement
Consolidated Reserves Report (CRR) & red flags
Reconciling CRR pre-FTX collapse data
Personal perspective on Tether with disclosures and market conditions
Thoughts on Proof-of-Reserves
Gaining trust through more disclosures
Final thoughts