Tether Lawyer Shocker: Only 74% Backed by Cash, How Will Bitcoin React?

By CCN.com: According to an affidavit filed with the Supreme Court of the State of New York by Stuart Hoegner, the general counsel to Tether and major bitcoin exchange Bitfinex, only 74 percent of Tether’s holdings are backed by cash. “As of the dateI am signing this affidavit, Tether has cash and cash equivalents (short term securities) on hand totaling approximately $2.1 billion, representing approximately 74 percent of the current outstanding tethers,” the affidavit read. Th