As per Bijié Wǎng, Uber early investor Jason Calacanis has urged Tether to achieve full operational stability and 'Americanization' by selling all its Bitcoin and holding 100% U.S. Treasury reserves. He argued this would restore Tether's credibility and reduce systemic risk. Calacanis also recommended independent audits by two U.S. firms to enhance transparency. S&P Global recently downgraded the dollar peg stability of USDT to 'Weak' due to excessive Bitcoin reserves, lack of comprehensive audits, and opaque custodianship. Tether holds approximately 87,296 BTC, valued at around $900 million, as part of its total reserves. Calacanis has long expressed skepticism toward cryptocurrencies, previously labeling Tether a potential 'black swan' and warning of its systemic risks. USDT's market cap is $18.5 billion.
Uber Early Investor Urges Tether to Sell Bitcoin Holdings
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