On December 6th, concerns about the financial health of stablecoin issuer Tether resurfaced this week. The reason was that BitMEX founder Arthur Hayes warned that the company could face a serious crisis if the value of its reserve assets fell. However, James Butterfill, head of research at CoinShares, refuted these claims.
In a market dynamics report dated December 5, James Butterfill said concerns about Tether's solvency "do not seem tenable". He noted that according to Tether's latest audit report, it has $181 billion in reserve assets, while liabilities are around $174.45 billion and earnings are close to $6.80 billion. "While the risks of stablecoins should not be completely ignored, current data do not show systemic vulnerabilities." Tether remains one of the most profitable companies in the space, generating $10 billion in profit in the first three quarters of this year.
CoinShares head of research: Market concerns about Tether "seem untenable", current data does not show systemic vulnerabilities
2025-12-06 01:53:57
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