Tether Reserves: The mystery behind the largest stablecoin appears to be slowly uncovering with news of companies supporting its reserves. According to reports, a Wall Street based firm is the backbone behind maintaining Tether’s reserves. This is of huge importance as concerns were raised around lack of transparency about the stablecoin’s proof of reserves. Although the company behind the stablecoin try to make changes in terms of auditing and the assets it holds to back the cryptocurrency, questions remained about lack of transparency.
Also Read: U.S. House Committee Doubts Timing Of SEC’s FTX Probe
Tether Bond Portfolio
According to a Wall Street Journal report, Cantor Fitzgerald, a Wall Street financial services firm, oversees Tether’s i$39 billion bond portfolio.
The post Breaking: Mystery Around Stablecoin Tether (USDT) Reserves Solved? appeared first on CoinGape.
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