CoinShares Research Director: Concerns about Tether's Financial Situation Seem Unfounded, No Systemic Flaws Shown in Current Data

This week, concerns about the financial situation of stablecoin issuer Tether have resurfaced. BitMEX founder Arthur Hayes warned that the company could face a serious crisis if the value of its reserve assets falls. However, CoinShares research director James Butterfill has refuted these claims. In the market update report on December 5th, Butterfill stated that 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 ignored, the current data does not indicate any systemic flaws. Tether remains one of the most profitable companies in the field, generating $10 billion in profit in the first three quarters of this year.

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