Tether Lawyer Admits USDT Now dey 74% Backed by Cash & Equivalents

[Abiodun]

The USDT stablecoin dey only about 74% backed by paper money equivalents as of April 30, says by them issuer’s general counsel. Tether, the company wet dey behind USDT, holds about $2.1 billion for cash and short-term securities, write them general counsel Stuart Hoegner for an affidavit yesterday. Hoegner na also general counsel to Bitfinex, a crypto exchange wey share executives and get overlapping owners with Tether.