Recent updates about Tether (USDT) include several significant developments:
1. Depeg Concerns: On June 15, 2024, USDT experienced a slight deviation from its 1:1 peg to the US dollar due to an imbalance in Curveโs 3pool, where its weightage increased significantly. This imbalance was attributed to large trades involving borrowing and swapping USDT for other stablecoins like USDC .
2. Reserve Transparency: Tether announced plans to publish its reserve data in real time to enhance transparency. This move aims to address ongoing concerns about the backing of its stablecoin .
3. Investment and Expansion: Tether continues to expand its influence by investing heavily in various sectors. Recently, it announced a $1 billion investment plan for startups and launched a gold-backed stablecoin, Alloy. This new initiative is part of Tetherโs broader strategy to tokenize real-world assets .
4. Freezing Suspicious Addresses: Tether froze $5.2 million in USDT across 12 addresses suspected of involvement in money laundering and other illicit activities. This action reflects Tetherโs ongoing efforts to comply with regulatory requirements and prevent misuse of its stablecoin .