Tether to pay $41 million for claiming that USDT stablecoin was fully backed by US Dollars, orders CFTC

Tether, the issuer of USDT—the crypto industry's biggest and the most used stablecoin currently—has been fined $41 million by the Commodity Futures Trading Commission (CFTC) for claiming that  Tether stablecoin was fully backed by US Dollars. This was the order of the CFTC on Friday 15 October 2021. According to CFTC in its press release, Tether made "untrue or misleading statements and...