[Arthur Hayes Claims Tether Is Purchasing Gold and Bitcoin in Anticipation of Rate Cuts, Asset Decline Could Lead to USDT Bankruptcy] BitMEX co-founder Arthur Hayes posted on the X platform, stating that the Tether team is engaging in large-scale interest rate trades based on the expectation that the Federal Reserve may cut rates, which would significantly reduce its interest income. To mitigate this risk, Tether is purchasing gold and Bitcoin, theoretically aiming for these asset prices to rise when currency prices fall. However, if the value of gold and Bitcoin holdings drops by approximately 30%, Tether's equity could be wiped out, and USDT would theoretically face bankruptcy. He also mentioned that some major holders and exchanges might demand real-time access to Tether's balance sheet to assess its solvency risks.