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Tether Addresses FUD Around Secured Loans, Reveals Plans to Reduce These to Zero in 2023

Tether has proven its resilience by weathering eight years of the industry’s tumultuous markets.

Unlike countless parties that have gone bankrupt or are facing bankruptcy risks on the back of widespread fraud, leverage and bad risk management, Tether has prioritized transparency, accountability and operational excellence above all else. 

In response to the most recent attack on Tether, the company has reiterated that the secured loans held in its reserves are overcollateralized and covered by extremely liquid assets.

Understandably, after the events that have unfolded this year, the company recognizes that it is mission critical to restore faith in the market. Today, in addition to dismissing the recent cycle of Tether FUD that’s hitting the rumor mill, Tether is announcing starting from now, throughout 2023, it will reduce secured loans in Tether’s reserves to zero.

Tether is professionally and conservatively managed and this will be demonstrated once again by successfully winding down the lending business without losses (since all loans are over-collateralized by liquid assets). Tether risk management has shown over several years to be best in class while dealing with the unjustified fears created by fudders and speculative attempts of a few to take Tether down to the detriment of Tether users which represent the wider community.  

This decision is fueled by our unwavering commitment to serve the global audience who have continued to support Tether every step of the way. 

We will continue to show Tether’s resilience through the most uncertain times, regardless of the story fabrications and disinformation concocted by Tether Truthers and click bait headlines from mainstream media that have been consistently wrong about Tether, for close to a decade.

First, they questioned Tether’s reserves while propping up competitors as the most ‘trusted’ alternative. They were proven wrong. 

Then, they alleged Tether had 70% of its reserves in Evergrande. They were proven wrong again with the Evergrande crisis unfolding without any material impact to Tether or the crypto industry. 

It didn’t stop there. 

Next, the critics claimed Tether’s commercial paper reserves were worthless and would never sell. They were wrong yet again, as two months ago Tether eliminated all commercial paper from its reserves

They then went on to say Tether couldn’t sign with a big accounting firm – except, Tether has! With BDO, a top-5 accounting firm.

Now, as we see the ‘media darlings’ of crypto being exposed one by one for causing incalculable damage to people and the industry, their online allies and mainstream media are again desperately trying to make Tether the story.

As this market continues to grow and evolve, Tether is committed to adapting and leading the way forward as the infrastructure that’s powering the future of global finance & decentralized communications and information technology.

No matter what Tether FUD skeptics and journalists throw at us, we will continue to focus on emerging markets, financial freedom and demonstrate the deep care for our community that have made us the most trusted (and most used) stablecoin by people worldwide.

Just don’t expect Tether to ever become a sock puppet for Wall Street – especially as our competitors are doing a fine job filling that role.

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