Former Citi Analyst Challenges Arthur Hayes' Tether Insolvency Claims

Derived from Coinpedia, a former Citi crypto research head has refuted Arthur Hayes’ concerns about Tether’s solvency, revealing undisclosed corporate assets and profits not reflected in public reserves. The analyst argues that Tether’s balance sheet is stronger than critics assume, with significant holdings in Treasuries, mining operations, and potential Bitcoin assets. He estimates Tether’s equity at $50-100 billion and highlights its profitability, earning nearly $10 billion annually from $120 billion in Treasuries. The analyst also notes that Tether is better collateralized than most banks, despite lacking a central bank backing.