Tether 2023 stablecoin loans rise despite downsizing announcement in 2022

These secured loans were constantly shrouded in controversy due to an absence of openness on the security and the borrowers. WSJ report in December 2022 raised concerns about the items, as well about claims about these loans were totally collateralized. The WSJ questioned Tethers ability to fulfill redemption requirements in times of crisis.Related: Crypto Biz: You cant stop the Tether FUDTether dealt with these debates last year prior to announcing its plan to get rid of safe loans entirely in 2023. At the time the stablecoin provider called the issues around secured loans “FUD” and claimed the loans were over collaterized.The recent rise in protected loans for Tether comes amidst growing market supremacy and revenue for the firm.