Tether (USDT) capitalization is about to reach 100 billion USD
On December 25, 2023, Tether issued an additional 1 billion USDT, bringing the market capitalization of this stablecoin to exceed the 91 billion USD mark for the first time, an increase of nearly 38% in just one year.
💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 1,000,000,000 #USDT (1,001,100,000 USD) minted at Tether Treasuryhttps://t.co/i3Dqn5tSA6
— Whale Alert (@whale_alert) December 25, 2023
During the October and November period, Tether also put into circulation an additional 5 billion USDT, making an important contribution to the strong recovery of the cryptocurrency market.
Tether CEO Paolo Ardoino took to Twitter to summarize the company’s activities in 2023, especially after the new USDT issuance event.
I remember when I spoke for the first time in front of a public audience about @Tether_to .
It was March 2020, in London, at the CryptoCompare conference.
The title of my speech was “Tether: a story of innovation”.
I never did public speaking before.
I was excited and quite shy…— Paolo Ardoino 🍐 (@paoloardoino) December 26, 2023
In addition to setting a new capitalization record of over 91 billion USD, Tether also created a surplus fund worth more than 4 billion USD, to ensure maintenance of over 100% guarantee for USDT. This surplus fund is extracted directly from Tether’s US Treasury bond investment profits. At the same time, the company has invested in Bitcoin and gold with values reaching $1.6 billion and $3.1 billion respectively as of September.
In 2023, Tether also supports multiple initiatives to expand the Web3 ecosystem, including projects such as Holepunch / Keet, Synonym and Northern Data.
CEO Paolo Ardoino revealed that Tether will announce many other new investments and products in the future, creating great anticipation for 2024.
Related: Tether Announced Its Willingness to Cooperate with the FBI and US Secret Service
On the legal front, Tether has increased cooperation with US government agencies to prevent criminal activity, including freezing 161 wallet addresses on OFAC’s sanctions list and freezing more than 435 million USDT.
