Oct 14, 2021
Tether is the most popular USD stablecoin with $69bn minted. For users to be able to trust it, they need to know that Tether has $1 worth in reserves for every $1 in Tether they have minted. The problem is, Tether has a horrid track record of stable reserves. Many have called them a scam for years, with a recent Bloomberg piece only adding to that narrative. Here is Tether's response to the Bloomberg piece.