In a recent discussion with Fox Business, Tether’s CEO, Paolo Ardoino, stated that the USDT stablecoin is backed by 104%.
This means the company possesses assets that exceed the total supply of the stablecoin by a considerable margin.
Ardoino highlighted that maintaining the stability and security of the stablecoin is the company’s foremost priority.
Data from CoinGecko shows that USDT’s market capitalization is approaching $120 billion.
In 2021, Tether was penalized $41 million by the CFTC for inaccurately representing its reserves.
To enhance transparency regarding its reserves, Tether releases quarterly reports. Read More -- https://voiceofentrepreneur.life/
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