In the company’s latest quarterly report, Tether noted that its assets included $5.5 billion of loans as of June 30, up from $5.3 billion in the previous quarter. A Tether spokesperson told The Wall Street Journal (WSJ) that the recent rise in stablecoin lending was due to a few short-term loan requests from clients with whom the firm has “cultivated longstanding relationships.” The spokesperson also said the company plans to cut such loans to zero by 2024.
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Source: Cryptocurrency - investing.com
