Deutsche Bank has raised concerns over the future of stablecoins, including Tether, citing lack of transparency and inadequate reserve backing. The report specifically questions Tether's solvency and operational integrity, pointing out the "questionable" status of its financial reserves. Tether defended its position, criticizing the report's lack of concrete data and arguing that comparisons with failed stablecoins were misleading. The company cited recent financial attestations as evidence of its robust financial health. The ongoing debate between traditional banks and crypto entities like Tether could impact the regulatory and operational landscape of the crypto market.