Tether Turmoil Twist: Stolen Reserves Proves Crypto Stablecoin Was Once Backed

The crypto community is in an uproar following the New York State’s Attorney General’s office accusation that prominent crypto exchange Bitfinex – tied closely to the controversial stablecoin Tether – had hidden a $850 million loss at the hands of a capital management company.
While the news caused a steep, widespread selloff across the crypto market, there is some good news buried deep within the Tether turmoil: the fact that $850 million was stolen from Bitfinex could b