Tether confirms that it has no exposure to Genesis amid the withdrawal halt.
Tether announced on November 16 that they are striving hard to increase transparency.
In reaction to the news that exchange withdrawals were being frozen, Tether released a brief statement on November 16 stating that it has no risk to interest-bearing Gemini Earn. Or the institutional crypto lender Genesis Global. USDT was hoping to set itself apart from other crypto organizations that were experiencing a crypto-related crisis.
Tether said that
“At this point, it is crucial to emphasize that Tether’s reserves have exhibited persistent courage in the face of the black swan events that have characterized the market this past year.”
Tether Strives For Transparency
The largest stablecoin is Tether, which oversees the USDT. And ranks third in terms of market capitalization among all digital currencies. On May 12, at the start of the market collapse, it lost its dollar peg value for a short duration.
Tether st
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