Source: USDTUSD Chart by TradingView
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. Tether works to disrupt the conventional financial system via a more modern approach to money.
Tether has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratized cross-border transactions across the blockchain.
Tether reduces commercial paper exposure to below $50M, Treasury bills rise to 58.1% of reserve
As of Sept. 30, Tether holds 58.1% of its reserve assets in U.S. Treasury bills, while aggressively reducing its commercial paper exposure to below $50 million.
CryptoSlate Wrapped Daily: Bitcoin drops 6.5% after Fed’s 75 bps rate hike; Tether under pressure to produce documents on USDT reserve
Bitcoin declines 6.5% following Fed's rate hike; court orders Tether to provide documents on USDT reserve and much more in this edition of CryptoSlate Wrapped Daily.
New York court orders Tether to provide documents on USDT reserve
Tether must also provide information about its accounts at Bittrex, Bitfinex, and Poloniex.
Tether USDT launches on NEAR as protocol launches $100M Web3 fund
Tether successfully integrated USDT on NEAR to drive more liquidity to the DeFi ecosystem and reduce the adverse effect of market volatility.
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