Bitmex Research team has published an updated version of its in-depth study Tether that came out
in the past month. It shows that the recently introduced data from Puerto Rico support the argument that Noble is a major International Bank, the reserve Bank Tether, and that the island became a major center for the cryptocurrency business.
The Commissioner of financial institutions of Puerto Rico recently published
aggregate data of the financial system for the year 2017. Bank deposits in the category of «International financial institutions», which includes Noble Bank increased by 3.3 billion — a 248% in December 2017. The total value of assets in the category amounted to 3.8 billion dollars, which is 161% higher than in the previous quarter.
The researchers explain that this «extraordinary growth coincides with a large increase in the value of crypto-currency assets, which led to large inflows of funds in banks involved with crypto currency. During the same period, the cost of the released Tether increased by 215% to 1.4 billion dollars.» Thus, the researchers conclude:
«These new data confirm the thesis of our recent studies in which we assumed that Noble Bank is the main reserve Bank of Tether».
Noble Bank International (NBI) wrote about his activities: «We are state licensed Bank located in the territory of the United States in Puerto Rico under the Federal laws of the United States. The NBI does not provide or portalarium client assets. On the contrary, the assets are legally separated from the name of the client and protected from bankruptcy, they are a global custodian, BNY Mellon NBI».
If this statement is true in the case of the service Tether, it turns out that the fate of crypto currency depends on the US regulators. Bitmex Research as noted in my previous report, there is also irrefutable evidence of the connection between the Bank and the token. Founder and CEO of Noble John Betts (John Betts) behind the Sunlot Holdings, which planned to absorb and save the exchange MtGox. In addition, Sunlot supported Brock pierce (Brock Pierce), one of the founders of the Tether.