CoinShares Counters Tether Solvency Fears With Fresh Reserve Data
CoinShares has pushed back against renewed solvency concerns surrounding Tether, citing the stablecoin issuer's latest reserve attestation. The data reveals $181 billion in reserves against $174.45 billion in liabilities, leaving a $6.8 billion surplus. Head of Research James Butterfill emphasized Tether's profitability—$10 billion in Q1-Q3 2025—while acknowledging stablecoin risks require constant vigilance.
Criticism from BitMEX founder Arthur Hayes and a S&P Global downgrade reignited market anxieties this week. These concerns echo long-standing skepticism about Tether's reserves during periods of volatility. Yet USDT maintains its dominant 69% stablecoin market share, with trading volumes exceeding $18 billion daily.