Arthur Hayes：Tether 的黄金与 BTC 头寸下跌约 30% 将致其资不抵债

Core Insights - BitMEX founder Arthur Hayes indicates that Tether is betting on an upcoming interest rate cut by the Federal Reserve, which would reduce its interest income [1] - Tether is increasing its allocation in gold and Bitcoin to hedge against a potential decline in currency value [1] - Hayes warns that if this asset combination declines by approximately 30%, Tether's equity could be significantly wiped out, leading to a theoretical insolvency risk for USDT [1] - He anticipates that large holders and exchanges will demand Tether to provide a real-time balance sheet [1]