According to Bloomberg, cryptocurrency stablecoin Tether (USDT) has enough fiat dollars to back its tokens in circulation. No doubt, many readers will scorn that this is just another rumor as Tether is synonymous with controversy.
What’s going on?
Tether has Fiat Dollars
The original stablecoin has faced a myriad of controversy since the middle of this year when investors began questioning the validity of its purported 1 for 1 token value.
A stablecoin works by having enough fiat reserves to equal the number of tokens issued. This means that 1 Tether would …
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