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Anyone Seen Tether’s Billions?

Exactly how Tether is backed, or if it’s truly backed at all, has always been a mystery.

(Bloomberg Businessweek) -- In July, Treasury Secretary Janet Yellen summoned the chair of the Federal Reserve, the head of the Securities and Exchange Commission, and six other top officials for a meeting to discuss Tether. The absurdity of the situation couldn’t have been lost on them: Inflation was spiking, a Covid surge threatened the economic recovery, and Yellen wanted to talk about a digital currency dreamed up by the former c...
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