That's a recent change, and come about since they've been taken to court. They originally claimed that every USDT issued was backed by cold hard USD cash. No '

That's a recent change, and come about since they've been taken to court. They originally claimed that every USDT issued was backed by cold hard USD cash. No 'cash equivalents', no 'other assets', no 'loans'. The wayback machine can give you a historical view on their pages and their claims.