Tether: The reserve-backed loan ratio will be reduced to zero by 2023.

Tether was recently very upset with media criticism of its reserve loans, believing that the extremely low-risk allocation was misunderstood. Today (14), it announced that it will reduce the reserve loan ratio to zero by 2023, with the current reserve loan ratio only accounting for 9.02%.

Tether was recently outraged by media criticism of its secured loans, believing that the extremely low-risk allocation was misunderstood. Today, on the announcement that "the proportion of secured loans in reserves will be reduced to zero by 2023," the current ratio of secured loans is only 9.02%.

In response to past skepticism, Tether has gradually reduced the proportion of commercial paper to 0% and has accepted an audit by the accounting firm BDO. Note: Although similar to Mazars used by Binance, it has been deemed by UK regulators to have insufficient audit quality.

Tether's CTO Paolo Ardoino also stated that they have long been bullied by the media, but perseverance pays off.

Recap:

• Tether condemns Wall Street Journal
• Circle unexpectedly in operational losses