Tether to reduce secured loans to zero in 2023 amid battle against FUD

The company told the The Wall Street Journal that its loans reached $6.1 billion, or 9% of Tether’s total assets, as of Sept. 30. The group’s consolidated total assets reached more than $68 billion in the third quarter.

Tether intends to remove all secured loans from its backing in 2023 sịnce the stablecoin operator’s increasing roster of loans might make it unable to pay back redemptions in the event of a crisis.