Analysis of information sources in references of the Wikipedia article "Tether (cryptocurrency)" in English language version.
Tether, the cryptocurrency stablecoin that says it's backed one-for-one by fiat currencies, released a reserves breakdown for the first time that showed a large portion in unspecified commercial paper. The company has faced questions over its reserves and whether they were used to manipulate cryptocurrency prices. In February, Tether settled a legal dispute with the New York Attorney General's Office and paid a fine of $18.5 million.
There isn't hard evidence the cash supporting it exists(subscription required)
Tether, the cryptocurrency stablecoin that says it's backed one-for-one by fiat currencies, released a reserves breakdown for the first time that showed a large portion in unspecified commercial paper. The company has faced questions over its reserves and whether they were used to manipulate cryptocurrency prices. In February, Tether settled a legal dispute with the New York Attorney General's Office and paid a fine of $18.5 million.
There isn't hard evidence the cash supporting it exists(subscription required)