Arthur Hayes warns of the financial risks of Tether

2025-11-30 01:41:53

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Co-founder of BitMEX, Arthur Hayes has warned about the liquidity risks of Tether following the latest audit report, focusing on the company's interest rate strategy and asset management capabilities. Hayes stated that Tether is betting on the Fed lowering interest rates, which could shrink revenue from bond yields. To compensate, Tether is increasing its purchases of gold and Bitcoin, expecting these two assets to become bullish as interest rates cool.

However, Hayes emphasized that if the price of gold and Bitcoin falls by about 30%, Tether's equity could be wiped out, leading to the risk of USDT losing its liquidity. This has caused large holders and exchanges to demand greater transparency from Tether, especially regarding real-time financial reporting.

According to the Coincu research team, increasing transparency could help Tether fall concerns and strengthen market confidence.

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