The company behind the USDT stablecoin added $45 million worth of bitcoin to its balance sheet last quarter, CTO Paolo Ardoino confirmed to Bitcoin Magazine.
Tether just updated its website to clarify that each of its USDT stablecoin tokens, which it used to claim were “always backed 1-to-1 with traditional currency,” are backed by assets other than fiat currency.
Last month's attack on Tether contains a cautionary tale: Only those coins that can survive such attacks have the slightest chance of becoming the “holy grail" of stablecoins.