James Butterfill, Head of Research at CoinShares, responded to recent controversies regarding Tether’s solvency, noting that despite new criticisms from Arthur Hayes and S&P Global, Tether currently has billions of dollars in surplus and market panic is “somewhat misplaced.” He cited Tether’s latest audit report, stating that the company currently holds $181 billion in reserves against approximately $174.45 billion in liabilities, resulting in a surplus of nearly $6.8 billion. Tether remains one of the most profitable companies in the industry, generating $10 billion in profits in the first three quarters of this year. (Cointelegraph)