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Back in 2019 Tether was proven to NOT be backed 1:1 in USD. Rather it is backed 74% by fiat AND cash-equivalents. So that 74% is not even 74 literal cents. Art
by tsujp 5y ago
Back in 2019 Tether was proven to NOT be backed 1:1 in USD. Rather it is backed 74% by fiat AND cash-equivalents. So that 74% is not even 74 literal cents.
Article: https://www.coindesk.com/markets/2019/04/30/tether-lawyer-admits-stablecoin-now-74-backed-by-cash-and-equivalents/ https://www.coindesk.com/markets/2019/04/30/tether-lawyer-ad...