According to Tran Hung, the CEO of Tether has confirmed that their reserves include a substantial holding of 82,454 Bitcoin (BTC) and 48.3 tons of gold. This announcement highlights Tether's significant investment in these assets, which may influence the stability and backing of Tether's stablecoin. Crypto traders should consider the potential implications on market confidence and trading strategies, especially in light of Tether's role in the cryptocurrency ecosystem.
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So, for us traders, it feels like a double-edged sword.
If BTC or gold goes up, Tether’s reserves look stronger, but if there’s a big dip, things could get wobbly :)
That resembles Luna story 2 years ago but with main exposure to Solana
Can you really trust a stablecoin?
Until it depegs 😱