Tether Says Celsius Incident Has Not Affected USDT Reserves

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USDT issuer Tether has said that although the crypto lending platform Celsius is part of its investment portfolio, the negative events surrounding the project have not affected the financial stability of the USDT.

Celsius suspended withdrawals, exchanges and transfers between accounts yesterday. Over the past 24 hours, the CEL token has lost about 41% in price and is trading at a level near $0.21.

Competing service Nexo has already announced it is ready to buy out Celsius’ loan portfolio.

Tether has said the events that affected the activity of the platform are “the result of volatility and extreme market conditions.”

Bitcoin has fallen by more than 13% in a day. At the moment, BTC is in the region of $23,700.