1 Tether issued is supposedly backed by 1 USD made as payment to Tether.
For every $1 deposited into a Tether account, a correlating 1USDT is minted.
If this is the case, why do Tether’s cash reserves account for less than 4% of their total backing?
For every $1 deposited into a Tether account, a correlating 1USDT is minted.
If this is the case, why do Tether’s cash reserves account for less than 4% of their total backing?