Documents released by the New York Attorney General indicate that Tether had a term USDTHe revealed that he backed ‘ with Chinese securities.
According to documents released by the Attorney General, Tether China Construction BankAnd Agricultural Bank of China owned securities issued by banks such as There have been many rumors for a while that Tether is backing its stablecoin with Chinese securities. While the company remained silent on the matter, it denied in September 2021 that it held commercial papers issued by Evergrande.
Documents Reveal Other Developments
Tether said in July that it does not hold any Chinese commercial securities.
The company criticized those who continued to spread false information on the subject at that time and said they were wrong. These documents, released by the New York attorney general at the request for freedom of information, are the stablecoin issuer’s Deutsche Bank, Barclays BankAnd ArcelorMittalIt also showed that it owns securities issued by companies such as
These published documents NYAG It’s part of data gathered in an investigation by Tether into Tether, which resulted in a settlement and fine in 2021. The company claims to have removed all commercial papers from support of USDT since the litigation process in 2021.
