Stablecoin Issuer Tether Explains How FTX and Alameda Collapse Has No Effect on USDT

Stablecoin Issuer Tether Explains How FTX and Alameda Collapse Has No Effect on USDT


Tether, the largest stablecoin issuer in the world, has released a statement assuring investors that USDT is in no way affected by the meltdown of crypto exchange FTX and its trading arm Alameda Research.

In a new blog post, Tether says that since Alameda was a large issuer of USDT, speculation on whether the trading firm’s collapse presents a risk to Tether has surfaced.

Tether says that Alameda being an issuer of USDT means that Alameda originally sent USD to Tether, and received USDT in return. Now, the only option Alameda has is to return USDT to Tether to be reimbursed in USD.

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“Those reserves are still in Tether’s possession; they are not on Alameda’s balance sheet. The collateral backing Alameda’s USDT is not on

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