Arthur Hayes Warns Tether ‘Macro Hedge’ Risks Equity Wipeout in 30% Bitcoin Correction

Tether's Bitcoin reserves, USDT, Tether's USDT, Tether. Photo by BeInCrypto BitMEX co-founder Arthur Hayes has warned that Tether risks balance-sheet insolvency if its Bitcoin and gold reserves suffer a 30% drawdown. His November 30 post targets the structural vulnerabilities in Tether’s latest asset allocation. He suggests the firm has tied its solvency to the performance of volatile risk assets rather than relying solely on the stability of government debt. Hayes Critique Tether's Gold and Stablecoin H ...