Tether’s Q3 attestations prove that it can’t quit secured loans
Tether’s most recent report on its reserves shows a significant increase in what it describes as “equity.” Additionally, it claims it has made over $7 billion in profits over the last nine months and that its secured loans business has grown. The world’s most popular stablecoin has reached a market capitalization of over $120 billion, and it holds over $80 billion in United States Treasury securities, mostly with Cantor Fitzgerald. History of Tether’s secured loans Some of Tether’s clients, including Celsius and Nexo, received secured loans from it that frequently used bitcoin as collateral. However, during the industry issues in late 2022, following the bankruptcies of Celsius, FTX, Alameda Research, and many others, Tether published a blog post titled Tether Addresses FUD Around Secured Loans, Reveals Plans to Reduce These to Zero in 2023 . Read more: CHART: Tether has attracted US government action 19 times In this post,...