Tether: Celsius crisis has no impact on USDT reserves

Tether: Celsius crisis has no impact on USDT reserves


The ongoing crisis of Celsius’s native token has nothing to do with the stablecoin provider Tether and will not impact its USDT reserves, according to the company.

Tether issued a statement on Monday regarding the major cryptocurrency lending platform Celsius halting withdrawals due to its rumored liquidity crisis.

According to the statement, Tether’s lending activity with Celsius has “always been overcollateralized” as with any other borrower and “has no impact” on the company’s reserves.

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The announcement also described the ongoing issues with Celsius as an “unfortunate result of market volatility and extreme market conditions.”

The Tether company is the issuer of the Tether (USDT), the largest stablecoin pegged to the United States dollar based on 1:1 ratio. At the time of writing, USDT’s market capitalization amounts to $72 billion, significantly

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