Tether boasts of its financial stability after strong profits, money moved out of banks

by Aurelia Butler 15 May 2023, 19:40 199 Views

Tether’s (USDT) market capitalization grew from $66 billion to over $82 billion in the first quarter, while Tether shed over 90% of its bank deposits, bringing it down from $5.3 billion to $481 million. Tether said the remaining bank deposits are spread out among several banks, referring to its competitors that suffered losses after recent bank failures.

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Tether boasts of its financial stability after strong profits, money moved out of banks

San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup

Fed’s Barkin sees ‘no barrier’ to higher rates if inflation persists

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