Crypto generally higher
You have to think that crypto would be doing better today if it weren't for the second hack at a Korean exchange. That's because Tether fought back against accusations that its cryptocurrency isn't backed by US dollars with a statement from a respected law firm.
Freeh Sporkin & Sullivan LLP was given access to two of Tether's bank accounts and said that on June 1 -- a date the law firm choose -- the $2.55 billion in the account was more than adequate to cover the $2.54 billion in Tether outstanding.
Of course, there are plenty of caveats but the firm was co-founded by former FBI director Louis Freeh and two retired judges so it would have to be an incredible hoax to fool them.
