Tether Stability Debate Intensifies as Analysts Clash Over $6.8B Reserve Surplus

Tether faces renewed scrutiny after former BitMEX CEO Arthur Hayes questioned its reserve strategy, warning that sharp declines in Bitcoin and gold holdings could eliminate the stablecoin issuer's equity buffer. CoinShares countered by highlighting Tether's $6.8 billion surplus and nearly $10 billion in profits through the first nine months of the year, arguing the company remains financially sound despite concerns.