With mounting concerns over Tether’s growing number of secured loans and it being a reason for the stablecoin issuer’s eventual demise, Tether came out with an official announcement later today. The crypto firm is now planning to minimize its loan exposure to zero by the year 2023.
Tether’s 2023 Goal
According to its announcement, the internal team at Tether is prioritizing transparency, accountability and operational eminence to safeguard itself from any calamity. Unlike the growing number of crypto firms going bankrupt or on the brink of facing bankruptcy risks due to high leverage, widespread fraud, and poor risk management, Tether plans to continue its 8-year long legacy forward.
Read More: Why Doesn’t Tether Publish USDT Reserves” : Founder Responds
After The Wall Street Journal reported that the stablecoin operator’s growing list of loans would make it impossible for it to repay redemptions in the event of a crisis, Tether announced that it would remove all secured lo
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