Tether Partly Backed by Bitcoin, Court Transcription Reveals48

Tether, a stablecoin tied to the dollar that is meant to mediate the volatility of other cryptocurrencies, is partly backed by bitcoin.

As detailed in court documents obtained by The Block, Tether admitted to using some of the cash reserves meant to back its stablecoin to purchase bitcoin, among other assets.

Original source
https://bitcoinmagazine.com/articles/tether-partly-backed-bitcoin-court-transcription-reveals/

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