💸Crypto-mystery clues suggest Tether has the billions it promised
A new report from Bloomberg shows that controversial stablecoin Tether is likely fully backed by fiat as the project has claimed. Bloomberg was able to review bank statements spanning four separate months that showed at those points in time that Tether had the proper deposits to back outstanding tokens. For example, one statement showed $2.2 billion in Tether’s account at Puerto Rico’s Noble Bank Ltd. on Jan. 31, equal to the 2.195 billion Tethers outstanding. The numbers also matched up in September and October 2017.
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