If enough traders asked for their dollars back at once, the company could have to liquidate its assets at a loss. The losses could cascade into the regulated financial system by crashing credit markets. Tether's web site also touts a settlement with new york's attorney general. But the announcement of that settlement made it sound like the company had been up to some horrible stuff.
This week's Cover Story for Bloomberg Businessweek:
"Stablecoin Tether Grows Into Crypto World’s $69 Billion Mystery"
Read by Bloomberg's Mark Leydorf.
A wild search for the U.S. dollars supposedly backing the stablecoin at the center of the global cryptocurrency trade—and in the crosshairs of U.S. regulators and prosecutors.
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