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Bitfinex Announces $550 Million Loan Repayment to Tether
Summary: The crypto exchange Bitfinex announced that it has repaid Tether a remaining loan balance of $550 million, which was paid in fiat currency in January, and all interest due on the loan has been paid. Subsequently, Tether also issued an announcement stating that it had received payment in January. Tether opened a credit line worth ...
The crypto exchange Bitfinex announced that it has repaid Tether a remaining loan balance of $550 million, which was paid in fiat currency in January, and all interest due on the loan has been paid.
Subsequently, Tether also issued an announcement stating that it had received payment in January.
Tether opened a credit line worth $900 million for Bitfinex as early as 2018, of which $750 million was used. Bitfinex repaid $100 million in 2019 and 2020 separately.
The close of the multi-year loan ends people's concerns of potential market systemic risks caused by USDT’s insufficient US dollar reserves.
By Mary Liu
Tags: Bitfinex,Tether,US Dollar,USDT
Link: Bitfinex Announces $550 Million Loan Repayment to Tether [Copy]
