Stablecoin issuer Tether (USDT) is nearing a $100 billion market cap after adding about $10 billion to its valuation during the last three months.
According to new data from crypto ranking platform CoinGecko, USDT has seen its total market cap balloon from $84 billion on October 15th to over $94 billion on January 15th.
Last week, the stablecoin issuer pushed back against accusations from an agency associated with the United Nations (UN) that claimed USDT was frequently being used by criminals to launder money and commit fraud in parts of Asia.
According to a report published by the United Nations Office on Drugs and Crime (UNODC), bad actors in East and Southeast Asia prefer using USDT on the Tron (TRX) blockchain as Tether offers better anonymity, lower fees and more stability.
However, Tether denies the claim and says that using USDT for illicit activities is difficult as it collaborates with numerous law enforcement agencies to track and monitor transactions.
Tether is continuing a massive accumulation of Bitcoin (BTC), pushing its reserves of the flagship digital asset up to $2.8 billion.
According to market intelligence platform CryptoQuant, in August, Tether was holding just $1.6 billion worth of the top crypto asset by market cap at the time, making it the 11th-largest BTC-holding entity in the world.
Tether currently holds around 66,400 BTC, according to CrypoQuant founder and chief executive Ki Young Ju.
Generated Image: Midjourney
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here
Women's Floral Print Puff Sleeve Kimono Cardigan Loose Cover Up Casual Blouse Tops
$13.58 (as of June 15, 2024 20:54 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Hontry Binoculars for Adults and Kids, 10x25 Compact Binoculars for Bird Watching, Theater and Concerts, Hunting and Sport Games
$23.63 (as of June 16, 2024 21:00 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Forbidden King: A Small Town, Brother's Best Friend Romance (Magnolia Falls Series Book 3)
$4.99 (as of June 16, 2024 20:54 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
4mm Super Tiny Tragus Hoop Earrings, 20g Gold Cartilage Earring, Helix Hoops, Tragus Piercing Jewelry, Upper Ear Cartialge Piercing Ear Rings, 14K Gold Filled 4 mm 20 Gauge
$13.98 (as of June 16, 2024 21:00 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
