They absolutely used to claim that each tether is backed up by 1 USD in their reserve account, and that’s precisely what the audits were supposed to prove. Mayb

They absolutely used to claim that each tether is backed up by 1 USD in their reserve account, and that’s precisely what the audits were supposed to prove. Maybe they are backpedaling away from that now, but it’s not right to say that they never claimed this. This was the whole point of Tether.