Tether Fires Back Against Report It Uses Reserves For Investments And Makes Cryptocurrency-Backed Loans By Cointelegraph

(USDT), the largest stablecoins issuer by market cap, has refuted details of a Bloomberg story about its reserves.

In a Thursday report, Bloomberg reporter Zeke Faux made numerous claims against Tether, including that its CFO Giancarlo Devasini used the company’s reserves to make investments, which appear to contradict Tether’s public position that the holdings were fully guaranteed at all times. Further, Faux alleges that Tether invested in Chinese companies and issued cryptocurrency-backed loans “worth billions of dollars.” According to the report, he could not confirm that a single bank in the Bahamas was working directly with Tether.

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