Is Tether (USDT) on FTX backed by real USD reserves?

3 answers

• Mar 19, 2022 · 3 years ago
  Yes, Tether (USDT) on FTX is backed by real USD reserves. Tether Limited, the company behind USDT, claims that each USDT token is backed by one US dollar held in reserve. They have provided periodic audits to support this claim. However, there have been concerns and controversies surrounding Tether's transparency and the actual amount of USD reserves. It's always recommended to do your own research and exercise caution when dealing with stablecoins like USDT.
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• Mar 19, 2022 · 3 years ago
  No, there are doubts about whether Tether (USDT) on FTX is fully backed by real USD reserves. Tether Limited has faced criticism and legal challenges regarding the transparency of their reserves. Some argue that Tether may be issuing more USDT tokens than the actual USD reserves they hold. It's important to consider these concerns and evaluate the risks before relying on USDT as a stablecoin on FTX or any other platform.
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• Mar 19, 2022 · 3 years ago
  According to BYDFi, a digital currency exchange, Tether (USDT) on FTX is backed by real USD reserves. They have conducted thorough audits and provided evidence to support this claim. However, it's always advisable to independently verify the information and make informed decisions when using USDT or any other stablecoin on FTX or any other exchange.
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