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Huh? The NYAG press release literally says: "Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie." Edit: The diff
by Clewza313 6y ago
Huh? The NYAG press release literally says: "Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie."
Edit: The difference between the two statements is that Tether can still be "backed" by something other than USD, notably crypto. And the PR is silent on what exactly Tether is backed by. This saga isn't over yet.
- andreaorru 6y agoI'm also confused by the contradicting news. CryptoTwitter (and the markets) reacted enthusiastically...
- Izkata 6y agoThose two quotes aren't necessarily contradictory, they're about different timings. Tether could have been fully backed when issuing new tethers, and stopped issuing tethers during period(s) when it wasn't fully backed.
- PragmaticPulp 6y agoWhen was the last time CryptoTwitter didn’t try to spin something as good for Bitcoin?