>every tether is always backed 1-to-1 by traditional currency held in our reserves >There is no contractual right or other right or legal claim against us to r

>every tether is always backed 1-to-1 by traditional currency held in our reserves >There is no contractual right or other right or legal claim against us to redeem or exchange your tethers for money. We do not guarantee any right of redemption or exchange of tethers by us for money Then it's not backed by anything, is it?