Tether USDt

Investors are increasingly worried about Tether, the world’s largest stablecoin issuer, due to its persistent refusal to undergo an independent, third-party audit. With over $118 billion in circulation, concerns about Tether’s opaque operations are growing. Investors fear a potential liquidity crisis similar to the downfall of FTX, the infamous cryptocurrency exchange.Cyber Capital Founder Highlights Tether RisksJustin Bons, the founder of Cyber Capital, has recently explained the risks of Tether. On September 14, in an X post, Bons described Tether as a “major threat” to the crypto space. He pointed out that the company is asking the public to believe that it has $118 billion in reserves with no evidence. This lack of transparency is not new. In 2021, the U.S. CFTC charged Tether a $41 million penalty for making false statements about its reserves.Tether controls more than 75% of the <a href="https://x.com/tokenterminal/status/1835661598200942987" rel="noopener noreferrer nofollow">stablecoin market</a>, having grown its market share by 20% over the past two years. This dominance is causing even more concern. Investors fear Tether’s size and lack of transparency could lead to a collapse like FTX.<a href="https://cryptotale.org/tethers-118b-reserves-clients-push-for-third-party-audits/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information Website | Twitter | Telegram | Instagram |

Tether’s $118B Reserves: Clients Push for Third-Party Audits

CryptoTale

Other articles published on Sep 20, 2024

BingX Confirms Security Breach, Millions in Crypto at Risk Amidst Investigation

Vitalik Buterin Made a Statement, This Altcoin’s Price Suddenly Dropped 50 Percent

MicroStrategy Grows Its Bitcoin Holdings While the Market Fluctuates

Avalanche’s price Eyes Potential 183% Rally: Can FET Hit $3.90 After Breakout?

Russia Sets Sight on Crypto Miners With Energy Tax Proposal

Michael Saylor's MicroStrategy to Issue $700M in Senior Convertible Notes to Buy More Bitcoin

Join our free newsletter for daily crypto updates!