TechFlow News — Weiss Ratings tweeted that Bitfinex's reserves have not undergone public audits, and there are rumors alleging that USDT is not fully backed 1:1, operating more like a reserve bank under a fractional-reserve model. Therefore, we recommend avoiding USDT. In contrast, USDC undergoes audits by at least five accounting firms. Based on these reports, USDC is backed by over 100%—which is why it is now our preferred stablecoin.
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