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‼️ Tether Is Taking Capital Risk Arthur Hayes argues that Tether is shifting more of its reserves into gold and Bitcoin as it prepares for softer Fed policy and lower returns from traditional assets. ➡️ Hayes says a roughly 30% drawdown in gold and BTC could wipe out Tether’s capital and create a real solvency risk for USDT ➡️ Large holders and exchanges may start demanding real time balance transparency ➡️ The topic is almost guaranteed to spark major media noise around Tether’s reserve structure The market sees this as an early warning shot. Attention will now focus on how resilient the reserves of the world’s largest stablecoin actually are. ✅Subscribe to@cryp