BitMEX Founder Warns Tether’s Bitcoin Bet Could Trigger USDT Collapse

Tether’s latest Q3 2025 attestation reveals the stablecoin giant now holds approximately $22.8 billion in gold and Bitcoin, a diversification strategy that BitMEX founder Arthur Hayes warns could trigger USDT’s collapse. CEO Paolo Ardoino announced the company maintains “a multi-billion-dollar excess reserve buffer and an overall proprietary Group equity approaching $30 billion,” but Hayes argues this diversification masks dangerous exposure to volatile assets. Hayes contends Tether is positioning for Fed ...