CoinShares Debunks Tether Collapse Fears After Hayes Warning

CoinShares head of research James Butterfill has dismissed insolvency concerns surrounding Tether following warnings from BitMEX founder Arthur Hayes, who claimed a 30% drop in the stablecoin issuer’s Bitcoin and gold holdings could wipe out its equity. Butterfill’s December 5 market update affirmed that Tether maintains over $181 billion in total reserves against roughly $174.45 billion in liabilities, leaving a surplus of approximately $6.78 billion. The dismissal comes as crypto markets navigate turbu ...