Tether CEO Paolo Ardoino recently revealed that the company currently holds over 82,000 bitcoins and 48 tons of gold as reserves for USDT, along with over $100 billion in U.S. Treasury bonds as backing. This news quickly sparked enthusiastic discussions within the crypto community. The diversified reserves not only enhance USDT's credibility, but the inclusion of gold also allows USDT to somewhat surpass the traditional support of the dollar. However, users have raised questions about the custody of gold and the auditing situation, highlighting the market's demand for transparency.
Meanwhile, Ardoino's statement comes as the Wall Street Journal reports that Tether is under investigation by the U.S. Department of Justice. Although Tether quickly denied this news and pointed out its cooperation with global law enforcement agencies, the market reaction was still evident. However, USDT's position in the crypto market remains solid, with a market capitalization of $120 billion and a 24-hour trading volume reaching $32 billion, indicating that market trust in it is recovering.
Moreover, Tether is actively expanding its business and recently previewed a local AI development toolkit that supports various AI models and emphasizes privacy and peer-to-peer technology. This innovative move undoubtedly adds more possibilities for Tether's future development.
In the current complex market environment, Tether demonstrates strong market resilience with its substantial reserves and continuously expanding business layout. What are your thoughts on this? Feel free to share your opinions in the comments!
