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23.12 - 19:05
Tether in hot soup again, faces second class-action lawsuit this year
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moneycontrol.comStablecoin issuer Tether has yet again found itself locked in a legal tangle with accusations of falsely representing its stablecoin backing.
Another class-action lawsuit had earlier this year alleged immoral, unethical, oppressive and unscrupulous company practices, reported Decrypt, a news outlet reporting on cryptocurrency.
Tether has, for long, claimed that it has, at all times, been backed by a 1:1 dollar reserve, which means that for every 1 USDT, the company necessarily needs to have $1 in
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