Tether claims to be 1:1 backed, i.e. each USDT issued is backed by a USD in their reserve. I don't believe that is actually true in Tether's case, but yes, I wa

Tether claims to be 1:1 backed, i.e. each USDT issued is backed by a USD in their reserve. I don't believe that is actually true in Tether's case, but yes, I was referring to 1USD in reserve per 1USD-stable-token as the viable stable/pegged token case.