Tether Responds to WSJ Allegations of Mismanagement of Funds

Tether Responds to WSJ Allegations of Mismanagement of Funds

Tether issued a statement informing its community of false material that had been spread to cast doubt on the organization’s integrity. The misinformation cited above pertains to a Wall Street Journal (WSJ) story that attacked Tether.

Tether’s Reply to the WSJ Report
The notion that three months’ worth of TreasuryBills constitutes an unsafe asset was the first issue that Tether addressed. Tether challenged this assertion by pointing out that US Treasuries have been the safest asset on the planet for many years.

Tether also focused on the assumption made in the report that Tether was a loss-making company, claiming that Tether’s assets only cover its liabilities by $191 million, indicating a “thin cushion of equity.”

However, Tether’s Consolidated Reserves Report revealed that, despite being successful for numerous years, the stablecoin has never reported any equity. The report has also been accepted by the New York Attorney General, according to the business (NYAG).

 

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