Stablecoins Safer than Banks Says Top Investor at Paris Talk

- Stablecoins with top-tier collateral offer more security than commercial bank deposits. - Transparency concerns persist with issuers like Tether. On June 10, 2025, Diogo Monica, general partner at Haun Ventures, stated at the Paris 'Proof of Talk' conference that stablecoins backed by top-tier collateral offer more security than commercial bank deposits. He explained that stablecoins backed by reserves held at globally systemically important banks (G-SIBs) or in short-term US Treasury bills are safer because commercial bank deposits represent liabilities for the banks. In contrast, Monica elaborated, reliable stablecoins should hold backing from safer assets, such as G-SIB deposits or short-term Treasury bills. This means these stablecoins represent a title to top-tier collateral, not potentially unstable bank liabilities. On June 10, Cointelegraph reported that Monica's assertion also highlighted significant and ongoing transparency concerns, particularly surrounding stablecoin issuers like Tether, the largest centralized stablecoin issuer by market capitalization. Tether has faced repeated scrutiny regarding its transparency and risk management; for instance, in late 2018, its payment processor lost access to approximately $850 million, which prompted Tether to lend a substantial portion of its reserves to the affiliated Bitfinex exchange. Despite publishing reserve attestations in recent years, Tether has not yet provided a full independent audit of its reserves. However, according to reports in March 2025, Tether is working with a Big Four accounting firm to pursue this audit and has appointed a new CFO to help achieve this goal. As of early June, Tether had not announced an audit. As of 15:17 UTC on June 10, Tether USDt (USDT) was trading at $1. Its 24-hour trading volume reflected a -0.059% change.