Rumors that Tether sold its Bitcoin reserves caused concern in the crypto market. CEO Paolo Ardoino publicly denied the claims.
Rumors of Bitcoin Sale
Speculations about Tether selling Bitcoin arose from misinterpretation of the company's Q1 and Q2 2025 reports, which showed a decrease in their Bitcoin reserves. YouTuber Clive Thompson noted this drop and speculated that Tether had sold part of its assets.
Clarifications from Tether's CEO
Paolo Ardoino stated on the X platform that Tether did not sell any Bitcoin, but rather transferred 19,800 BTC as part of an investment initiative called Twenty One Capital (XXI). CEO Samson Mow also confirmed this, indicating that the reallocation was responsible for the decrease in reported holdings.
Market Implications
On-chain data confirms that Tether moved 14,000 BTC in June and another 5,800 BTC in July, resulting in an actual net increase of at least 10,424 BTC. Along with Ardoino's explanation, this helped alleviate market uncertainty where reactions to the news were minimal.
Tether's clarifications reinforced trust in the company and affirmed its Bitcoin accumulation strategy. This incident highlights the importance of correctly interpreting data and financial reports to prevent the spread of false information.
