by cointelegraph 12/22/2018
Cryptocurrency exchange Bitfinex has announced it will support trading of USD denominated stablecoin Tether (USDT) against fiat USD from Friday. Bitfinex Hedging A Hedge The curious decision, which the exchange revealed in a blog post just hours before the pair went live, appears to be the first of its kind in the cryptocurrency industry. Each unit of USDT is notionally backed by 1 USD, and the stablecoin is designed to be used as a cryptographic
Rumors about stablecoin Tether not being fully backed by dollar reserves are looking increasingly thin, according to the latest bank statements, which show that USDT is fully backed by dollar reserves. 2.2 Billion in the Bank Purportedly, statements from four separate months, detailing the cash held in Tether’s accounts, confirm the Tether USDT stablecoin is fully backed by dollar reserves. Bloomberg reveals the latest statement showing that $2.2 billion was present in Tether’s account at Puerto Rico’s Noble
Tether Limited, the issuer of controversial USD-pegged cryptocurrency stablecoin tether (USDT), has confirmed that it is banking in the Bahamas.