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Correct, this is the answer. Wasn't really known until this year. https://fortune.com/crypto/2024/11/25/commerce-nominee-howard-lutnick-tether-booster-cantor-f

• evdubs 11mo ago
  It was known in early 2023. https://www.wsj.com/finance/currencies/wall-street-firm-oversees-billions-of-dollars-backing-tether-b56c68c1 https://www.wsj.com/finance/currencies/wall-street-firm-over...