Tether Releases ‘Transparency Update’ Vetted by Former FBI Director’s Law Firm

Controversial cryptocurrency startup Tether has released a “transparency update” indicating that its dollar-pegged USDT token, which had a $2.55 billion market cap as of June 1, is fully backed by physical dollars deposited in two separate banks. Released on Wednesday, the report was a product of Freeh, Sporkin & Sullivan LLP (FSS), a legal firm

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