Over the years, Tether (USDT) and other stablecoin issuers, have faced persistent scrutiny and criticism for their lack of transparency regarding the nature of assets backing their digital currencies.
The absence of clear information regarding reserve holdings has raised concerns within the cryptocurrency community and regulatory bodies alike. Despite mounting allegations, Tether has consistently refuted these claims, insisting on the legitimacy of their operations.
On Friday, June 16, Bloomberg reports revealed that USDT, the world’s biggest stablecoin, was once backed by securities issued by Chinese companies, according to the documents published by New York’s Attorney General (NY AG).
Specifically, Tether listed securities issued by China’s state-owned Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China as part of backing its USDT stablecoin reserves.
NY AG releases Tether-related documents after more than 2 years
For years, rumor
We współpracy z: https://finbold.com/documents-reveal-usdt-was-once-backed-by-chinese-securities/
