{"id":462178,"date":"2022-06-13T14:44:15","date_gmt":"2022-06-13T11:44:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tether-celsius-crisis-has-no-impact-on-usdt-reserves\/"},"modified":"2022-06-13T14:44:15","modified_gmt":"2022-06-13T11:44:15","slug":"tether-celsius-crisis-has-no-impact-on-usdt-reserves","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tether-celsius-crisis-has-no-impact-on-usdt-reserves\/","title":{"rendered":"# Tether: Celsius crisis has no impact on USDT reserves"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26e939bae72\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26e939bae72\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/tether-celsius-crisis-has-no-impact-on-usdt-reserves\/#%E2%80%9D_Tether_Celsius_crisis_has_no_impact_on_USDT_reserves_%E2%80%9C\" >&#8221; Tether: Celsius crisis has no impact on USDT reserves &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Tether_Celsius_crisis_has_no_impact_on_USDT_reserves_%E2%80%9C\"><\/span>&#8221; Tether: Celsius crisis has no impact on USDT reserves &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMzFkNTkxNGYtMGY1ZS00MWVmLThiNGYtMWZhMTY0YTgwNGRiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The ongoing crisis of Celsius\u2019s native token has nothing to do with the stablecoin provider Tether and will not impact its\u00a0USDT reserves, according to the company.<\/p>\n<p>Tether\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tether.to\/en\/celsius-feels-impact-of-market-volatility-tether-reserves-hold-strong\/\">issued<\/a> a statement on Monday regarding the major cryptocurrency lending platform Celsius\u00a0halting withdrawals due to its rumored liquidity crisis. <\/p>\n<p>According to the statement, Tether\u2019s lending activity with Celsius has \u201calways been overcollateralized\u201d as with any other borrower and \u201chas no impact\u201d on the company\u2019s reserves.<\/p>\n<p>The announcement also described the ongoing issues with Celsius as an \u201cunfortunate result of market volatility and extreme market conditions.\u201d<\/p>\n<p>The Tether company is the issuer of USDT, the largest stablecoin pegged to the United States dollar based on a 1:1 ratio. At the time of writing, USDT\u2019s market capitalization amounts to $72 billion, significantly exceeding the market value of its major competitor, the\u00a0Circle-backed USD coin (USDC).<\/p>\n<p>In 2021, Celsius reportedly borrowed $1 billion from Tether with Bitcoin (BTC) as collateral. Celsius founder and CEO\u00a0Alex Mashinsky said that Celsius was paying an interest rate between 5% and 6%.<\/p>\n<p>Tether is also known as an early investor in Celsius, contributing $10 million in equity investment to the lending platform in 2020. The latest statement from Tether stressed that the company\u2019s investments in Celsius have nothing to do with Tether:<\/p>\n<blockquote><p>\u201cWhile Tether\u2019s investment portfolio does include an investment in the company, representing a minimal part of our shareholders equity, there is no correlation between this investment and our own reserves or stability.\u201d<\/p><\/blockquote>\n<p>Celsius officially\u00a0halted all withdrawals on its platform\u00a0on Monday, citing \u201cextreme market conditions\u201d as its native CEL token lost about 50% of its value on Sunday.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Nexo offers to buy out Celsius\u2019 loans amid withdrawal suspension<\/em><\/strong><\/p>\n<p>The day before the collapse, Mashinsky took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> to claim that rumors of users being unable to withdraw funds were \u201cFUD and misinformation.\u201d He also wrote that he had many enemies because he was winning.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Celsius CEO the day before the collapse <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Rp2dhCmdPu\">pic.twitter.com\/Rp2dhCmdPu<\/a><\/p>\n<p>\u2014 Nate Anderson (@ClarityToast) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ClarityToast\/status\/1536185339643105280?ref_src=twsrc%5Etfw\">June 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Bitcoin community has subsequently expressed skepticism over events at Celsius, with some industry observers <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Breedlove22\/status\/1536196824096292864\">suggesting<\/a> that the Celsius network could \u201ccollapse and take a bunch of customer money with it.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/tether-celsius-crisis-has-no-impact-on-usdt-reserves\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Tether: Celsius crisis has no impact on USDT reserves &#8220; The ongoing crisis of Celsius\u2019s native token has nothing to do with the stablecoin provider Tether and will not impact its\u00a0USDT reserves, according to the company. Tether\u00a0issued a statement on Monday regarding the major cryptocurrency lending platform Celsius\u00a0halting withdrawals due to its rumored liquidity&#8230;<\/p>\n","protected":false},"author":1,"featured_media":462179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMzFkNTkxNGYtMGY1ZS00MWVmLThiNGYtMWZhMTY0YTgwNGRiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,74863,77595,75493,117,36041],"class_list":["post-462178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-lending","tag-stablecoin","tag-business","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=462178"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462178\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/462179"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=462178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=462178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=462178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}