59% Believe Tether is Not Backed by USD59% Believe Tether is Not Backed by USD
By Sheevika Senanayake - October 29, 2018

The most popular stablecoin in the crypto community is under deep suspicion of not being backed 1-1 with US dollars, since the token has refused an audit to prove its funds. Two polls conducted from the crypto community reflect this mistrust. A twitter poll with 875 respondents found that 58% stated that Tether was not actually backed by USD. A Telegram channel poll showed similar results, with 73% out of 52 respondents not believing USDT claims. Combined, the two polls show 59% mistrustful of USDT and that without an audit through a third-party, the suspicion will continue to haunt the stablecoin.