CoinShares Research Head Says Tether Solvency Concerns "Appear Unfounded"

CoinShares Research Head James Butterfill said concerns over Tether's solvency "appear unfounded," BlockBeats reports. Tether holds $181B in reserve assets against liabilities of approximately $174.45B, representing a surplus close to $6.8B, per the company's latest audit report. The assessment comes after BitMEX founder Arthur Hayes warned of potential crisis risks tied to reserve asset value declines. Tether generated $10B in profits during the first three quarters of this year, according to the report.