Tether Engaging With Big 4 Accounting Firm: Report
Critics have raised questions about the stablecoin giant for not being independently audited.
Keep up with what's happening in the crypto world in real-time.
Critics have raised questions about the stablecoin giant for not being independently audited.
Tether's CEO Paolo Ardoino shared a post on X yesterday that Tether was the seventh-largest buyer of US Treasuries in 2024. The company accumulated $33.1B worth of US Treasury securities last year, outranking countries like Canada, Mexico, and Germany.
Tether, the creator of the world's largest stablecoin, is "engaging with a Big Four accounting firm" as it pushes for a long-awaited audit of its reserves, an effort CEO Paolo Ardoino said will be easier under U.S. President Donald Trump.
Tether purchased $33.1 billion in U.S. Treasuries in 2024, becoming the seventh largest foreign buyer and outpacing several nations while its stablecoin market cap reached $143 billion.
Tether, the issuer of USDT, ranked as the seventh-largest buyer of U.S. Treasury securities in 2024. According to a Mar. 20 post on X by Tether chief executive officer Paolo Ardoino, Tether (USDT) purchased a net $33.1 billion in U.
Tether surpasses Canada and becomes the 7th largest buyer of US Treasury bonds. What are the implications for the crypto market?
Tether surprised the market by announcing that it purchased over $33 billion in Treasury bonds last year. This makes Tether the seventh-largest buyer of US bonds, ahead of countries like Canada, Mexico, and Germany.
The firm said it purchased a net $33.1 billion worth of U.S. Treasury securities last year,
Stablecoins are rapidly evolving beyond their original role as digital cash substitutes, with a new generation of yield-bearing and revenue-sharing models reshaping how these assets are used in financial ecosystems, according to a report. What Happened: The report, by Foresight Ventures, explores how these innovations may soon position stablecoins as a distinct financial asset class, unlocking new forms of passive income and challenging legacy banking models.
Tether accumulates over 33 billion dollars in US bonds
Tether's financial transparency and large US debt purchases make headlines.
This investment surpassed several countries and secured its place among institutional giants. This significant move into U.S. debt markets from Tether underscores the growing influence of crypto firms in traditional finance.
Tether, the $143 billion stablecoin giant, was the world's seventh-largest buyer of United States Treasurys, surpassing some of the world's largest countries.Tether, the issuer of USDt (USDT), the world's largest stablecoin, was the world's seventh-largest US treasury buyer, surpassing Canada, Taiwan, Mexico, Norway, Hong Kong, and numerous other countries. The stablecoin issuer acquired over $33.1 billion worth of treasuries, compared to over $100 billion purchased by the Cayman Island in the first place in global rankings, according to Paolo Ardoino, the CEO of Tether.
Ethereum continues to dominate the stablecoin market, with USDC and USDT accounting for the majority of the $850 billion in transaction volume recorded last month.
Binance's USDT/TRY trading pair saw its highest volatility since April 2024 after Istanbul Mayor Ekrem Imamoglu, a key rival to President Tayyip Erdogan, was arrested.
According to Whale Alert, an on-chain data tracking service, the Tether treasury transferred 1 billion USDT to HTX after minting 1 billion USDT on the Tron network.
The repost of the photo and the legends of the bianconera team.
It is not every day you see a billion dollars on the move, especially in the form of USDT, but here we are - 1,000,000,000 USDT, to be exact, freshly minted and sent from the Tether Treasury to HTX, the major Asian crypto exchange formerly known as Huobi.
On-chain data showed that Ethereum hosted $35 billion in USDC stablecoins and $67 billion in USDT.
As speculative assets face significant headwinds, Ethereum's stablecoin ecosystem continues to demonstrate resilience and utility.
According to the U.S. Securities and Exchange Commission filing, stablecoin issuer Tether has increased its stake in Bitcoin mining company Bitdeer.
Teltlk International, a decentralized social networking platform, has announced plans to launch a Visa card enabling users to spend Pi Coin and USDT crypto globally.
Tether has strengthened its presence in Bitcoin mining by increasing its stake in Bitdeer Technologies (BTDR).
The USDT issuer first bought a stake in the bitcoin mining company in May 2024.