USDT stablecoin reserve fell by $16 billion – Katoch Tubes

IS Tether (USDT) in danger?

What is Tether (USDT)?

Tether is the leading stablecoin in the crypto industry. It is created by iFinex, the company behind Bitfinex exchange

The fall of reserve

Tether audit reported a decline in its reserve from assets worth $82.4 billion to $66.4 in last quarter

The Reason?

It is assumed that the fall of UST had a ripple effect on stablecoins. Investor's lost trust in them & liquidated assets.

The new Auditor

The news came after Tether appointed BDO Italia, the accounting firm to audit & certify its reserves.

Tether Vision

Tether aims to lower down its exposure to riskier assets & publish monthly reports by year end like USDC & BUSD

Tether as investment

Tether is a stablecoin. It doesn't appreciate in value like other altcoins. Avoid investing in USDT

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