Amid crypto turmoil, this stablecoin quietly made $1.5 billion in Q2

Tether is printing $1.5 billion in profit by keeping the yield on your money while you get nothing, all while the rest of crypto bleeds. Most alarming is that their excess reserve cushion—the only thing protecting users—plummeted by 50% in just three months, falling from $8.23 billion to $4.11 billion. They are maximizing profit while halving their safety net. Is Tether a financial powerhouse or a systemic risk hiding in plain sight? What’s your take?
This summary was generated by AI