Tether has, unless they have the most incompetent representatives in the financial industry, just confirmed that they do not have USD backing all outstanding tokens.
(This has long been suspected to be true at least some of time; @Bitfinexed was on the case about a year ago.)https://twitter.com/CoinDesk/status/1051983963651223552 …
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They also said "assets have always exceeded liabilities". I think you missed that too.
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You're not reading between the lines. Also, Sullivan of FSS was on the Board of Directors for Noble Banks, so trusting that attestation would be a mistake.
End of conversation
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