Controversial stablecoin Tether is only 74 percent backed by cash (and other assets)

3:19am PDT - May 1st, 2019    new amsterdam - The Next Web

Tether’s lawyer has now admitted that the stablecoin is only 74 percent backed by cash and equivalents, according to an affidavit filed on Tuesday. In the filing, Stuart Hoegner, the company’s general counsel, said Tether held approximately $2.1 billion in ca…