1h ago
CoinShares Cites $6.55 Billion Reserve Surplus to Counter Tether Insolvency Concerns
CoinShares has dismissed recent solvency concerns about Tether, pointing to attestation data showing $181 billion in reserves against $174.45 billion in liabilities. The European digital-asset firm's analysis responds to warnings from BitMEX co-founder Arthur Hayes, who suggested a 30% decline in Tether's Bitcoin and gold holdings could eliminate its equity buffer. CoinShares emphasized Tether's $10 billion in profits during the first three quarters of 2024 as a mitigating factor against volatility risks.