Crypto Market Ignores Tether's Backing News

Cryptonews Source: iStock/standret, Cryptonews.com Lawyers for under-fire stablecoin Tether (USDT) admit the token is not backed 100% by cash reserves, but say that it is not obliged to back its token 1:1 with fiat – sentiments that the market appears to agree with. At the time of writing (08:36 UTC,) tether still trades above 1 USD. As previously reported, Letitia James, the Attorn May 01, 2019 at 01:47PM By Crypto News