Tether is only 74% backed by the US dollar, according to legal documents
It has been confirmed that Tether is not fully backed by the US dollar, as it claims to be. In fact, the stablecoin only has 74% of its reserves backed by the US dollar.
Reported by lawyers from Morgan Chase in the Supreme Court of New York documents, it is stated that less than three-quarters of the stablecoin is backed: