Tether: Deutsche Bank lacks substantial evidence for the failure theory of stablecoins

ChainCatcher news, Tether fiercely criticized Deutsche Bank's report for its lack of clarity and substantial evidence, relying on vague assertions rather than rigorous analysis. A Tether spokesperson stated that while the report attempts to predict the decline of stablecoins, it fails to provide specific data to support its claims. Comparing it to the algorithmic stablecoin Terra is misleading and unrelated to the discussion of reserve-backed tokens.

It is reported that in a previous study of 334 pegged currencies, Deutsche Bank analysts found that 49% of stablecoins failed during their median lifespan of about eight to ten years. The analysts concluded that most anchored assets in the cryptocurrency space would experience significant "turmoil" triggered by speculative sentiment and ultimately suffer some form of decoupling event. Deutsche Bank analysts also pointed out that Tether's reserves lack transparency and described the company's solvency situation as "questionable."