Tether’s Billion Dollar Reserves May Not Equate to ‘One-to-One Backing’ or ‘No Misconduct’56.4

Bloomberg reported that Tether “has the billions it promised,” suggesting that USDT could be backed one-to-one by dollars. That said, the reserves do not necessarily prove Tether’s innocence in a laundry list of other misconduct.

On Dec. 18th, Bloomberg reported that “Crypto-Mystery Clues Suggest Tether Has the Billions It Promised,” citing statements that span four months of cash held in Tether’s dollar reserves. Unfortunately, these claims do not guarantee that Tether is backed one-to-one prior to the date of the bank statements, or even in-between reporting periods.

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