[Arthur Hayes: If Tether's gold and Bitcoin holdings drop by about 30%, theoretically USDT will become insolvent] Odaily Planet Daily News - Arthur Hayes posted on the X platform stating that Tether is in the early stages of a large-scale interest rate trade. Tether believes the Federal Reserve will cut interest rates, which will reduce its interest income, so it has purchased gold and BTC as a countermeasure. If gold and BTC holdings drop by about 30%, it will deplete its equity, and theoretically, USDT will face the risk of insolvency.