BitMEX Co-Founder Sparks Debate Over Tether’s Bitcoin and Gold Strategy
The cryptocurrency community is embroiled in a heated debate over Tether's financial stability after BitMEX co-founder Arthur Hayes raised concerns about the stablecoin issuer's growing exposure to Bitcoin and gold. Hayes argues that a 30% decline in these assets could wipe out Tether's equity buffer, potentially destabilizing USDT's peg.
Former Citi analyst 'Joseph' counters this view, asserting that public attestations don't reflect Tether's complete corporate balance sheet. The dispute highlights ongoing transparency questions surrounding the world's largest stablecoin issuer as it navigates changing market conditions.
Tether's strategic pivot into BTC and gold appears to be a calculated bet on monetary policy easing, with Hayes describing it as "a massive interest rate trade." This MOVE comes as traditional stablecoin revenue streams face pressure from potential Fed rate cuts.
