Director of legal compliance Tether Ltd. Leonardo RIL said that all tokens USDT provided with Fiat reserves and assets of the company has always exceeded the financial obligations. It is reported by CoinDesk, citing representatives of the Issuer.
“Tether is a leading provider licenzirovanie Fiat, and a token is available in many global markets. We would like to reiterate that, despite the temporary fluctuations of prices, all tokens are fully secured by US dollars, and the company’s assets always exceeded liabilities”, — allegedly said RIL.
RIL also said that the report of the law firm Freeh Sporkin & Sullivan, LLP (FSS) in June said that all tokens provided dollars in Bank accounts.
However, recall that the FSS itself has indicated in the report that made her procedure “is not intended to provide guarantees and should not be confused with the audit,” since the work was undertaken “without observance of auditing and accounting standards.”
Monday, October 15, price USDT fell to 18-month low at $0,92. At the time of writing the exchange rate has recovered and is on the order of $0.97.
Previously on the bitcoin exchange Bitfinex was recorded abnormal growth rate of the first cryptocurrency to a level of $7788. Some community representatives suggested that this jump was due to the exit of major players from the USDT.
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