✉news BusinessCrypto first seen 16 h ago, last 16 h ago, peak #35
Tether's excess reserves halve in second quarter
Original: Tether's excess reserves halved in Q2, with declines in gold and bitcoin prices cited as the cause.
Tether's excess reserves were halved during the second quarter, with the stablecoin issuer citing declines in gold and bitcoin prices as the main cause. The figures highlight how exposed the company's reserves are to market swings in the assets backing its tokens, prompting discussion among crypto observers about the strength of its cushion.
Why now: The disclosure raises fresh questions about the reserves backing the world's largest stablecoin.
Evidence
- Tether's excess reserves halved in Q2, with declines in gold and bitcoin prices cited as the cause. · KuCoin
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