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Tether Says Its Stablecoin Is ‘Fully Backed’ Again

Tether Says Its Stablecoin Is ‘Fully Backed’ Again

USDT tokens are now fully backed by Tether’s reserves, the stablecoin issuer said Thursday. Tether published a response to what it described as “a flawed paper” written by John Griffin, a professor of finance at the University of Texas at Austin, and Amin Shams, an instructor the Ohio State University which claimed a single address on the Bitfinex exchange was responsible for manipulating the bitcoin market in late 2017, sparking the bull market.