CoinShares Research Director: Market's Concerns About Tether "Seem Unfounded," Current Data Does Not Show Systemic Vulnerabilities
BlockBeats News, December 6th. This week, concerns about the financial situation of stablecoin issuer Tether have once again resurfaced. The trigger was BitMEX co-founder Arthur Hayes's warning that if the company's reserve asset value were to fall, it could face a severe crisis. However, CoinShares research director James Butterfill has refuted these claims.
In the market update report on December 5th, James Butterfill stated that the concerns about Tether's solvency "seem unfounded." He pointed out that according to Tether's latest audit report, it holds $181 billion in reserve assets, with liabilities of around $174.45 billion, resulting in a surplus of nearly $6.8 billion. "While the risks of stablecoins should not be completely ignored, the current data does not indicate any systemic vulnerabilities." Tether remains one of the most profitable companies in the sector, generating $10 billion in profits in the first three quarters of this year.
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