According to a recent report, Tether, the issuer of the USDT stablecoin, has been increasingly lending its own coins to customers rather than selling them for cash. Further,  it also states that, the crypto giant has failed to disclose its stablecoin-issued loans and raises concerns about why Tether doesn’t publish its full USDT reserves for transparency.

Tether’s cofounder, Reeve Collins, states that, the company published its proof-of-reserves on the official website and that anyone could check them out and validate them. Additionally, Tether undergoes audits every few months for government authorities to understand how the funds are being managed and invested.

According to Reeves, in the last 8 years, in Tether’s operational history, “it always redeemed every token for exactly $1”.