Another worrying news for the crypto industry are revealed :
U.S. Regulators Subpoena Crypto Exchange Bitfinex, Tether!
Tether has yet to verify that it holds $2.3 billion in reserve!
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My question is - What if it turns out they do not have 2.3 billion, but maybe a lower amount of e.g. 1.6 billion?
It was right if the tether value will go down as fast as possible because they are lying with us. They don't have any reserve funds.
As far as I know, the developer and other people said that the reserve funds alreayd backed tether to reach a stable value. But look at the fact about the developer always try to generate more and more tether and send them all to the market.