According to ChainCatcher, Tether slammed the Deutsche Bank report, arguing that it lacked clarity and substantive evidence and relied on vague assertions rather than rigorous analysis. A Tether spokesperson said the report attempted to predict the decline of stablecoins but failed to provide specific data to support its claims. They believe that comparing Tether to the algorithmic stablecoin Terra is misleading and irrelevant to the discussion of reserve-backed tokens.
Previously, in a study of 334 pegged currencies by Deutsche Bank, analysts found that 49% of stablecoins failed during their median lifespan of approximately eight to ten years. Analysts concluded that most anchored assets in the cryptocurrency space will experience significant "turbulence" driven by speculative sentiment and eventually suffer some kind of decoupling event. Deutsche Bank analysts also pointed out that Tether's reserves lack transparency and called the company's solvency status "questionable."
