Tether Resumes USDT Loans, Insists It Maintains Excess Reserves

Tether Resumes USDT Loans, Insists It Maintains Excess Reserves

From decrypt.co

Stablecoin issuer Tether has resumed providing new loans denominated in USDT to clients, a move that comes nearly a year after the company had announced its intention to discontinue offering collateralized loans in 2023. The revelation comes from the company's latest quarterly financial update, which indicates an increase in USDT-denominated loans. As of June 30, the report showed assets that included $5.5 billion in loans, up from $5.3 billion in the previous quarter. The Wall Street Journal earlier today cited Tether spokesperson Alex Welch, who confirmed that the company has indeed extended new loans during the ... (full story)

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