Short Tweet - Posted via #Share2Steem on 2019/03/15 12:48:55
So your $USDT is backed by "other assets and receivables from loans made by Tether to third parties".
By that argument, if $USDT is used to buy other assets e.g. $BTC, it can be backed by those assets. So your $USDT is backed by $USDT 🤔
External Link : https://www.coindesk.com/tether-says-its-usdt-stablecoin-may-not-be-backed-by-fiat-alone
Tether Says Its USDT Stablecoin May Not Be Backed By Fiat Alone - CoinDesk
Tether has updated the terms on its website, saying that its dollar-pegged USDT stablecoin may not be backed 100 percent by fiat reserves.
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