❗ Hello everyone I have a issued:

Tether issued $11.6bn of collateralized loans during 2019-2021. 89% of these loans were backed by 450k BTC and 9% by 1.1m ETH as collateral. $8bn of the loans were repaid during that period.

Tether stated that it is winding down its lending operations during 2023, and noted the loans were overcollateralized.

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