CoinShares Head of Research: Market concerns about Tether "appear unfounded," and current data does not show any systemic vulnerabilities.

Mars Finance reported on December 6th that concerns about the financial health of stablecoin issuer Tether resurfaced this week. This stemmed from a warning by BitMEX founder Arthur Hayes that the company could face a serious crisis if the value of its reserve assets declines. However, James Butterfill, head of research at CoinShares, refuted these claims. In his market dynamics report on December 5th, Butterfill stated that concerns about Tether's solvency "appear unfounded." He pointed out that according to Tether's latest audit report, it has $181 billion in reserve assets, while its liabilities are approximately $174.45 billion, resulting in a surplus of nearly $6.8 billion. "While the risks of stablecoins should not be completely ignored, current data does not indicate a systemic vulnerability." Tether remains one of the most profitable companies in the sector, generating $10 billion in profit in the first three quarters of this year.