• September 28, 2023


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Tether Says WSJ Article on USDT Lending Growth is Not Accurate

ByLouis Adams

Dec 5, 2022 #Stablecoin
Reading time: < 1 minute

The issuer of Tether has called the WSJ article on the stablecoin “the hypocrisy of the media sleeping at the wheel of information.”

Recall that journalists said in the article that the company is increasingly issuing loans in “stablecoin,” which can lead to a crisis in the event of a “bank run.”

They noted that issuing loans in stablecoins is contrary to the policy on the website, according to which USDT is issued when exchanged for fiat at a ratio of 1:1.

The company spokeswoman Alex Welch has explained that such loans are short-term, backed by “extremely liquid” assets, and are issued only to eligible clients.

As of September 30, they reached $6.1 billion or 9% of the company’s total assets.