{"id":12708,"date":"2022-06-14T05:23:50","date_gmt":"2022-06-14T05:23:50","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tether-says-celsius-chaos-wont-impact-usdt\/"},"modified":"2022-06-14T05:23:50","modified_gmt":"2022-06-14T05:23:50","slug":"tether-says-celsius-chaos-wont-impact-usdt","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tether-says-celsius-chaos-wont-impact-usdt\/","title":{"rendered":"Tether says Celsius chaos won&#8217;t impact USDT"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<p dir=\"ltr\">Tether has announced that the USDT reserves \u201chold strongly\u201d even as cryptocurrency lending provider Celsius (CEL) feels the heat of crypto volatility.<\/p>\n<p dir=\"ltr\">The stablecoin issuer, in a statement to this effect released on Monday, said the events wont have an impact on the stablecoin\u2019s reserves. \u00a0<\/p>\n<p dir=\"ltr\">And going by events of not so long ago involving the collapse of TerraUSD (USD), Tether must have felt the need to issue a clarifying note.<\/p>\n<p dir=\"ltr\">\u201c<em>The recent events impacting the Celsius lending platform and its native token CEL are an unfortunate result of market volatility and extreme market conditions<\/em>,\u201d Tether<a href=\"https:\/\/tether.to\/en\/celsius-feels-impact-of-market-volatility-tether-reserves-hold-strong\/\" rel=\"noopener noreferrer\" target=\"_blank\"> <u>noted<\/u><\/a>.\u00a0<\/p>\n<h2>No correlation with USDT<\/h2>\n<p dir=\"ltr\">According to the company, while its portfolio holds an investment in Celsius, it is but a \u201cminimal part\u201d of its shareholders equity. Notably, Tether said its investment in the crypto lender has no correlation to its USDT reserves.<\/p>\n<p dir=\"ltr\">Additionally, the lending activity between Tether and Celsius \u201c<em>has always been overcollateralized<\/em>,\u201d adding to the overall assertion that none of what\u2019s happened with Celsius has an impact on the stablecoin issuer\u2019s reserves.\u00a0<\/p>\n<p dir=\"ltr\">On Monday, Celsius announced a pause to all withdrawals, transfers and swaps as it tried to navigate massive volatility.<\/p>\n<p dir=\"ltr\">\u201c<em>We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations<\/em>,\u201d Celsius said in a<a href=\"https:\/\/blog.celsius.network\/a-memo-to-the-celsius-community-59532a06ecc6\" rel=\"noopener noreferrer\" target=\"_blank\"> <u>message to the community<\/u><\/a>.<\/p>\n<p dir=\"ltr\">The platform has not resumed the operations as at the time of writing. Meanwhile, the native CEL token is down 21% in the past 24 hours and nearly 96% down since its all-time high reached in January last year.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/tether-treasury-celsius-crisis-wont-impact-usdt-reserves\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Tether has announced that the USDT reserves \u201chold strongly\u201d even as cryptocurrency lending provider Celsius (CEL) feels the heat of crypto volatility. The stablecoin issuer, in a statement to this effect released on Monday, said the events wont have an impact on the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":12709,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12708"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=12708"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12708\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/12709"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=12708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=12708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=12708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}