> Tether: "As to the Tether reserves, there is no finding that tether tokens were not fully backed at all times—simply that the reserves were not all in cash and all in a bank account titled in Tether’s name, at all times."
So, they were fully backed by dollars, except some of those dollars were not-dollars, and some of those dollars and not-dollars were not actually owned by the entity that was supposedly backing tether?
So, they were fully backed by dollars, except some of those dollars were not-dollars, and some of those dollars and not-dollars were not actually owned by the entity that was supposedly backing tether?