1 year ago

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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 🔗

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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⏲ Time Stamps ⏲

0:00 - Intro
2:32 - Introduction to Souvlaki
3:57 - Souvlaki's work in financial reporting & auditing
5:45 - Misconceptions around auditing
10:38 - Tether USDT background + context
19:06 - Tether's reduction in commercial paper
21:46 - Tether's Limited Assurance Engagement
26:55 - Consolidated Reserves Report (CRR) & red flags
31:45 - Reconciling CRR pre-FTX collapse data
38:25 - Personal perspective on Tether with disclosures and market conditions
43:23 - Thoughts on Proof-of-Reserves
50:39 - Gaining trust through more disclosures
54:06 - Final thoughts

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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

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