Tether USDt

Tether&#39;s USDT stablecoin is nearing $120 billion, reinforcing its status as the leading stablecoin in the cryptocurrency market.The company has issued $35 billion in USDT over the past year, exceeding its primary competitor, <a href="https://optimisus.com/news/crypto-news/circle-submitted-an-ipo-application-to-the-us-sec/" rel="noopener noreferrer nofollow">Circle&#39;s USDC</a>. As of Q2 2024, Tether possesses in excess of $97 billion in US Treasuries, ranking as the 18th largest holder of US government bonds worldwide.Stablecoins such as USDT are utilitarian for daily transactions and are being used in emerging markets for savings, payments, and international transfers. Tether, boasting a global user base of 350 million, has experienced a profit surge, generating over $400 million in the past month alone.Tether&#39;s expansion has resulted in diversification into finance, data, education, and energy sectors. Tether encounters scrutiny about its reserves and the potential risks posed to users, especially in relation to its financial vulnerabilities.

Tether's USDT stablecoin is approaching a $120 billion market cap

Optimisus

Other articles published on Sep 23, 2024

Scallop TVL breaks through the ceiling to 150 million US dollars and 47 million USD swap volume

BitMEX Co-Founder Arthur Hayes Deposits $5.61M in PENDLE into Binance and Bybit Over Three Days

ReadyCorp Introduces Expert Consultation Services for Companies Eyeing the Argentinian Crypto Market

Bitcoin, Binance, Ethereum, Solana, And Ripple: The Biggest Crypto News Of The Past Week

Johannesburg Welcomes a Successful South Africa Traders Fair 2024, Bringing Together Global Finan...

Consensys Faces Setback as Court Dismisses Lawsuit Against SEC

Join our free newsletter for daily crypto updates!