Tether to reduce secured loans to zero by 2023

Hull Invest

Tether (USDT) said it will remove secured loans from its reserves by 2023, according to a Dec. 13 blog. Position.

As of September 30, Tether’s secured loans accounted for 9% of its total assets, or about $6.1 billion, according to a December 1 Wall Street Journal report. Crisis with these loans.

However, Tether has refuted this claim, stating that “the secured loans held in its reserves are over-collateralized and backed by highly liquid assets.”

“Tether is managed professionally and conservatively, which is again demonstrated by successfully closing the lending business without loss (because all loans are over-collateralized by liquid assets. ).

Meanwhile, Tether said it continues to demonstrate resilience in the face of uncertainty, regardless of mainstream media clickbait headlines, article fabrications, and fabricated disinformation.

Tether rounded up its commercial papers to zero in October following pressure from the community regarding the quality of these reserves.

Tether’s USDT is the largest stablecoin by market cap. According to CryptoSlate data, fiat-backed stablecoins account for about 75% of stablecoin trading volume.

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