Pegged to the U.S. dollar, the token USDT, as it was assumed until recently, fully backed by hard currency. However, the latest revision on the website of the Issuer stablon company Tether says that the situation now is different.
We are talking about the responsibility of ensuring USDT, and now the company claims, each coin is provided “reserves, which include traditional currency and cash equivalents, as well as, from time to time… other assets and future earnings from loans that Tether provided to third parties.”
The company insists that each token remains pegged to the USD at a ratio of 1×1.
Tether previously stated that all the coins USDT 100% backed by US dollar. Partly these statements at the end of last year has confirmed Bloomberg.
New version on the website Tether already managed to comment on Reddit. Says Toyake, you can now officially say that USDT is not secured at 100% by the U.S. dollar.
Tether Once Again Pulls a Sneaky Update from CryptoCurrency
At the same time publishing The Block assumes that the new wording might be related to the investigation that the Ministry of justice in cooperation with the Commission on trade in commodity futures of the USA (CTFC) has initiated against the Tether in November 2018.