Tether's Bitcoin Holdings And Regulatory Challenges

According to BlockBeats, on February 13, 21.co strategy analyst Tom Wan revealed on social media that Tether holds 83,700 bitcoins, valued at approximately $8 billion, representing 0.4% of the total bitcoin supply. Previously, analysts from JPMorgan suggested that Tether might need to sell certain non-compliant assets, including bitcoin, precious metals, commercial paper, and secured loans, to adhere to proposed U.S. stablecoin regulations. The United States has introduced two stablecoin bills—the House's Stablecoin Transparency and Accountability Act (STABLE Act) and the Senate's Guiding and Establishing New Innovations for U.S. Stablecoins Act (GENIUS Act). These bills aim to regulate stablecoin issuers through licensing requirements, risk management rules, and 1:1 reserve backing. According to the STABLE Act, only 66% of Tether's reserves meet the requirements, while the GENIUS Act indicates an 83% compliance rate, as reported by a team led by JPMorgan analyst Nikolaos Panigirtzoglou on Wednesday. Notably, analysts highlighted that both figures suggest a decline in Tether's compliance ratio since mid-2024, coinciding with a surge in stablecoin supply.