📚 [Messari Research] Tethered to Risk: A History of Realcoin
Tether, originally called Realcoin, represents either the most important liquid reserve in the crypto ecosystem or the largest systemic threat depending on who you talk to. To date, Tether and Bitfinex have experienced a slew of troubled banking relationships and eventually disclosed that tethers are not fully backed by dollar reserves. The saga has come to a head with a recent action by the New York Attorney General’s office over a missing $850 million in reserves.
Read the full historical analysis of Tether here.
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