Concerns over Tether’s fiscal soundness are growing as some hedge funds short-betted based on the price fall of Tether. Tether revealed its plan to suspend secured loans by 2023, denying the media report that there were insufficient current assets.
The need for virtual asset regulation is rising on the surface. The U.S. Financial Stability Board and the SEC urged regulations on virtual assets and reported that a comprehensive regulatory framework is needed. The chairman of the SEC stressed the need for a strict licensing system for cryptocurrency companies.
FTX founder SBF was arrested in the Bahamas, expecting to stand a trial in the U.S.A. He will soon be repatriated to the U.S., and the trial is expected to be accelerated.