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I haven't been following the Tether saga lately: is there any actual evidence that Tether is backed up with fiat?

• lawn 6y ago
  Tether themselves have admitted that it's not fully backed with fiat. And as far as I know there's no actual good evidence on how much fiat they're backed by.
  • inquirerofsorts 6y ago
    > as far as I know there's no actual good evidence on how much fiat they're backed by Would you say there's a minimum amount? Thought it was quite clear in the courts that it was at least 90% fiat backing with anything else being hard too account for which I'm guessing is doublespeak for "it's ours and you can't touch it". Virtually all of the people who actually hold tether are exchanges, mostly in the US. Everyday people are rarely exposing themselves to risk here. Just for comparison, the reserve ratio required by US banks is now effectively 0%. https://www.federalreserve.gov/monetarypolicy/reservereq.htm https://www.federalreserve.gov/monetarypolicy/reservereq.htm