Tether Quietly Took Over CeFi Lending—Now Controls 70% of the Market!

TL;DR Tether dominates the CeFi lending market with a 70% share, up from 20% before the sector’s collapse in 2022. Together with Galaxy Digital and Ledn, it controls $10 billion in loans, accounting for 89% of the centralized market. Although criticized for the opacity of its reserves, Tether claims its loans are overcollateralized in Bitcoin. . . source: https://crypto-economy.com/tether-quietly-took-over-cefi-lending-now-controls-70-of-the-market/