Is Tether backed by Bitcoin & Ether?
Tether is looking like a train wreck. The only scenario Tether can work is if they are fully backed by very short term US Treasuries, bank deposits at JPMorgan or high quality commercial paper. Fully backed. If Tether is not fully backed by these stable items, its all over. In fact, one could argue that the whistleblower 10% recovery almost guarantees t…