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Tether’s lack of third-party audits has investors worried that the $118 billion stablecoin giant could face an FTX-like liquidity crisis.

Cyber ​​Capital founder Justin Bons said Tether could potentially be a bigger scam than FTX. Bons recalled that Tether was fined $41 million by the CFTC in 2021 for lying about its reserves.

Tether’s market share exceeding 75% has raised concerns. IDA Finance founder Sean Lee suggested that Tether’s collapse could be related to its banking partners.

What do you think about concerns about Tether’s business structure and transparency? Share in the comments.