Tether’s Remarkable Journey: From Controversy to Crypto Powerhouse

Remember the days when Tether, the world’s largest stablecoin issuer, was under intense scrutiny? Academics and media alike questioned its legitimacy, suggesting it was artificially inflating Bitcoin’s price.

Fast forward to today, and Tether’s story is one of undeniable success and influence. Here’s a snapshot of Tether’s recent achievements:

• $5.2 billion in net profit in the first half of 2024.
• USDT stablecoin is backed by over $97 billion in US Treasuries, surpassing the holdings of countries like Germany, UAE, and Australia, making Tether the 18th largest holder of US debt globally.
• Ranked as the third-largest buyer of 3-month US Treasuries in Q2 2024.
• Tether’s reserves amount to $118 billion as of June 30, 2024, with a $5.3 billion surplus over its liabilities.
• Investments in diverse sectors such as sustainable energy, Bitcoin mining, data, AI infrastructure, P2P telecommunications, and neuro-technology.

From Doubt to Dominance

Tether has transitioned from being a subject of skepticism to a cornerstone of the financial ecosystem. Here’s a deeper dive into Tether’s evolution and its current impact: