Tether’s financial stability questioned by BitMEX founder Arthur Hayes, who warns of trouble if reserve asset value drops. CoinShares research head James Butterfill counters, pointing to Tether’s $181 billion reserves against $174.45 billion liabilities, leaving $6.8 billion surplus. Tether remains profitable, generating $10 billion in first three quarters of the year.

BitMEX co-founder Arthur Hayes raises concerns about Tether’s financial health, saying a 30% drop in Bitcoin and gold holdings could make USDt stablecoin insolvent. Tether CEO Paolo Ardoino defends against S&P Global downgrade, citing third-quarter attestation report. S&P Global downgrades Tether over stability concerns due to exposure to high-risk assets.

Tether’s USDt is the largest stablecoin in the crypto market, with $185.5 billion in circulation and a market share of nearly 59%. Concerns about Tether’s solvency persist, with ongoing scrutiny over its reserves and asset backing. Tether’s stability and financial health continue to be a topic of discussion in the industry.

Read more at Cointelegraph: Analyst Pushes Back as New Tether Solvency Fears Resurface