unbacked

[ uhn-bakt ]

adjective

1. without backing or support.
2. not supported by bets:

   an unbacked challenger.

3. not endorsed:

   an unbacked product.

4. never having been mounted by a rider, as a horse.

unbacked

/ ʌnˈbækt /

adjective

1. (of a book, chair, etc) not having a back
2. bereft of support, esp on a financial basis
3. of a horse
   1. not supported by bets
   2. never having been ridden

Word History and Origins

Origin of unbacked¹

First recorded in 1585–95; un- ¹ + backed

Example Sentences

The committee said "unbacked" crypto assets - typically cryptocurrencies with no fixed value - exposed "consumers to the potential for substantial gains or losses, while serving no useful social purpose".

From BBC

Britain has outlined a phased approach, starting with stablecoins and broadening out to unbacked cryptoassets later on, but there is no firm timetable.

From Reuters

Basel has set punitive capital charges on unbacked crypto currencies like bitcoin, and less conservative charges on stablecoins, which are backed by an asset or fiat currency.

From Reuters

He added that while stablecoins, a crypto asset that attempts to peg its value to a conventional currency such as the U.S. dollar, are quite different from unbacked crytpo assets, they too require careful monitoring.

From Reuters

To cover the losses, the exchange, Bitfinex, took loans from Tether’s reserves, leaving the stablecoin partly unbacked, according to Ms. James’s investigation.

From New York Times

Related Words

• defective
• erroneous
• false
• faulty
• flawed
• fragile
• illogical
• inaccurate
• incorrect
• insane
• insecure
• shaky
• unbalanced
• unhealthy
• unreliable
• unsafe
• unstable