Tether Reneges on Loan Promise: Lends $5.5 Billion in Stablecoins Despite Earlier Pledge

Tether, the company behind the popular USDT stablecoin, has raised eyebrows in the crypto community by lending out $5.5 billion in stablecoins, despite its earlier promise to halt such loans by the end of 2023, according to a Wall Street Journal report.
This revelation has raised questions about Tether’s ability to handle a potential rush of redemptions and highlights its increasing dominance in the stablecoin market, while its top competitor, USDC, has been losing market share….
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