CFTC Fines Tether and Bitfinex $42.5M for ‘Unfaithful or Deceptive’ Claims

“As to the Tether reserves, there is no such thing as a discovering that tether tokens weren’t totally backed always – merely that the reserves weren’t all in money and all in a checking account titled in Tether’s title, always. As Tether represented within the Order, it has at all times maintained enough reserves and has by no means didn’t fulfill a redemption request,” Tether wrote.