Tether's CEO, Paolo Ardoino, highlighted the crucial role of USDT in driving demand for the US dollar in developing countries. With over 300 million users globally, USDT serves as a digital dollar, offering vital financial services to underbanked communities. This stablecoin facilitates efficient money transfers and storage, bypassing traditional financial systems. Tether's significant holdings in US Treasuries, amounting to $90.87 billion as of March 31, 2024, reflect its growing influence in finance. As the dominant stablecoin with a market cap exceeding $112 billion, USDT plays a pivotal role in the cryptocurrency market. Despite facing regulatory scrutiny, Tether continues to witness steady growth in demand, especially in emerging markets like Nigeria, Turkey, Thailand, and Brazil. Ardoino debunked claims of potential US government targeting, emphasizing Tether's commitment to transparency and compliance. Read more AI-generated news on: https://app.chaingpt.org/news