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Tether fined $41M for misleading claims it was fully backed by fiat

tether

Tether, the issuer of the world’s most popular stablecoin USDT, has been fined US$41 million by the U.S. Commodity Futures Trading Commission (CFTC) over “untrue or misleading” claims that its USDT stablecoin was fully backed by corresponding fiat currencies.

Fast facts

Lachlan Keller contributed to this report.

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