CoinShares Research Head Dismisses Tether Insolvency Claims After Hayes Warning

CoinShares head of research James Butterfill has rejected insolvency concerns about Tether following warnings from BitMEX founder Arthur Hayes. Butterfill stated that Tether maintains over $181 billion in reserves against approximately $174.45 billion in liabilities, resulting in a surplus of around $6.78 billion. Hayes had warned on November 30 that a 30% decline in Tether's Bitcoin and gold holdings could eliminate the company's equity.