With recent news surrounding Genesis today, Tether would like to confirm that it has absolutely no exposure to Genesis or Gemeni Earn. Tether tokens are 100% backed by its reserves, and the assets that are backing the reserves exceed the liabilities. Tether holds a strong, conservative, and liquid portfolio, which includes cash, cash equivalents, and U.S. treasuries. Tether will continue to focus on safeguarding those reserves.
It is important at a time like this to highlight that these reserves have proved tried and true demonstrating consistent resilience during the black swan events that have characterized the market this past year.
Tether is operating business as usual and will continue to do so putting our customers first.
