Tether changes the rules of the game. Forget about secureding by dollars
Stablecoin USDT from the company Tether now does not have to be entirely provided with real US dollars, the company has updated the policy on the site without announcement.
According to representatives of the startup, each coin is supported by "reserves, which include the traditional currency and cash equivalents, as well as other assets and forthcoming proceeds from loans that were provided to third parties."
According to The Block, the wording may be related to an investigation by the US Department of Justice and the Commodity Futures Trading Commission (CFTC) regarding Tether. Earlier, the startup stated that all coins are adequately provided with US dollars, this information was partially confirmed in December 2018 by Bloomberg sources.
Over the entire existence of the company, it has not conducted a single bank audit, explaining that by the specifics of the cryptocurrency industry. Last year, four stableckcoins appeared on the market, which is entirely provided with real currency.