Tether Updates Website, Says USDT Backed by “Reserves,” Not Just Cash54

Tether just updated its website to clarify that each of its USDT tokens, which it used to claim were “always backed 1-to-1 with traditional currency,” are backed by assets other than fiat currency.

Now, the website instead reassures its patrons that it’s always “100% backed by [its] reserves.” It clarifies this vague language, even legalistic language, by saying these reserves “include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities.”

Original source
https://bitcoinmagazine.com/articles/tether-updates-website-says-usdt-backed-by-reserves-not-just-cash/

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