🏦 Interesting piece by WSJ on Tether. While Bitcoin grabs most of the spotlight, USDT is creating what the Journal calls "a parallel economy." Based in the British Virgin Islands, it facilitates cross-border transactions, serving as a bypass for US sanctions. It’s also helping less savory activities.

But let’s be real: Tether’s influence is massive—$190 billion flows through it daily, almost as much as Visa. And despite its enormous profit last year, $6.2 billion, the company operates with minimal oversight.

Tether claims to work with law enforcement and is enhancing its transaction monitoring, but the scope of its impact is impressive. And a bit concerning.