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International Business Times
International Business Times
Business
Marvie Basilan

Tether CEO Slams JPMorgan Analysis Indicating Stablecoin Giant May Sell Bitcoin

Tether JPMorgan JPM Bitcoin Paolo Ardoino Crypto
Will Tether be forced to sell its Bitcoin holdings in the future? (Credit: Tether Website/Screenshot)

KEY POINTS

  • JPMorgan analysts noted that only 66% of Tether's reserves are compliant with the STABLE Act
  • They noted how only 83% of Tether's reserves to back its $USDT coins are compliant with the GENIUS Act
  • Tether's CEO blasted JPMorgan analysts for supposedly being 'salty' because they don't own $BTC

JPMorgan analysts projected that Tether may need to offload its Bitcoin amid efforts to establish stablecoin regulations in the United States, but the stablecoin giant clapped back, mocking the banking and investment giant for not having "enough Bitcoin."

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