RABIT Weekly News (W2 September 2022)

Sep 7, 2022 • 1 min read

According to a report released by Tether (USDT), the world's largest stable coin issuer, Tether's debt is about $67.5 billion and its reserve value is about $67.7 billion. This signifies that the value of Tether's reserves is $191 billion larger than the debt size while suggesting that a mere 0.3 percent drop in the value of the reserves could lead to a technical bankruptcy, WSJ reported. However, Tether stated what WSJ has recently reported "is a series of unsubstantiated conclusions."
The latest report on digital asset fund allocation published by CoinShares showed that Bitcoin outflows continued the 4th-week negative streak at $11.1 million. Crypto investment products had roughly $9 million in inflows last week, and the US represented the highest negative sentiment. At the same time, short-Bitcoin investment funds increased inflows to a record $18 million over the last week.

Sign up for more like this.