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Yes it is backed because when they print a new tether they sell it for 1$ which they put it in their treasury.
by sethgecko 6y ago
Yes it is backed because when they print a new tether they sell it for 1$ which they put it in their treasury.
- mekster 6y agoNo, people sell BTC to get Tether, in which case, what did the previous BTC owner buy if it's not backed up with USD?