/biz/ - Business & Finance

Anonymous Sun Jul 22 22:02:52 2018 No.10378149 [View]
File: 28 KB, 448x613, ass = tether, chair = usd.jpg [View same] [iqdb] [saucenao] [google]

And in what should come as good news to the crypto community, on Wednesday morning Tether said its bank deposits of $2.55 billion were confirmed by the law firm co-founded by FBI director Louis Freeh as the company seeks to reassure investors that its cryptocurrency is backed by U.S. dollars. According to the Tether release, Freeh Sporkin & Sullivan, LLP (FSS), confirmed that all Tethers (USDT) in circulation are sufficiently backed by U.S. dollar (USD) reserves.

The FSS report, based on a random date balance inspection and a full review of relevant bank account documentation, confirms that all Tethers in circulation as of June 1, 2018 are fully backed by existing USD reserves.
https://www.zerohedge.com/news/2018-06-20/tether-responds-bitcoin-manipulation-charges-confirms-all-tethers-backed-us-dollars

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