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Stablecoin Tether stocks fell 21 percent.

Tether platform that provides USDT stable coin. The allocation of its financial reserves to commercial securities has decreased by 21% compared to December last year. That’s down from $ 30 million last year to $ 24 million this year. The company is required by the rules set for the Stablecoin Teter. Announce the amount of its investment in commercial securities to the public once every three months. In 2017 and 2018, it was claimed that teter had issued a portion of its investments in Fiat currency instead of its investments.

In the latest survey conducted by MHA Cayman accountants. Analysis of data from Tether reports in December 2021 shows. Tether’s assets are greater than its liabilities. Total assets are reportedly $ 78.67 billion, while liabilities are about $ 78.53 billion. The investment structure of Tether has undergone many changes since the beginning of 2022. The cash and bank accounts of the company fell 42 percent to $ 4.187 billion. Tether’s investment in the money market has increased by 200% to $ 3 billion.

Is Tether in a critical phase?

In May 2021, Tether was criticized by many critics in the field. Based on these criticisms, Tether was condemned for lack of transparency in investment and invalidity of published financial information. There were also concerns about the Evergrande crisis for Teter as the company reduced its bank accounts and invested in more risky areas. Which was rejected by Tether. The securities mentioned in this article are from Teter’s investment. Some forms are given by large companies to smaller companies so that they can pay the salaries of their employees. These bonds are a kind of unsecured loan. According to the published information, the bonds purchased by Tether have a maturity of 90 days and must be settled.

The USDT is currently the largest stable coin in the digital currency market with a trading volume of 79.47. The biggest competitor for Tether is the USD Coin (USDC) with a market volume of $ 52.7 billion.

 

Source: Cointelegraph

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