Tether CEO Paolo Ardoino recently revealed that the company currently holds over 82,000 Bitcoins and 48 tons of gold as reserves for USDT, along with over $100 billion in U.S. Treasury bonds as backing. This news quickly sparked heated discussions within the crypto community. The diversified reserves not only enhance the credibility of USDT, but the inclusion of gold has also allowed USDT to surpass the traditional support of the dollar to some extent. However, users have raised questions about the custody of gold and the auditing situation, indicating a market demand for transparency.
Meanwhile, Ardoino's statement coincides with a report from The Wall Street Journal that Tether is under investigation by the U.S. Department of Justice. Although Tether quickly denied the news and pointed out its cooperation with global law enforcement agencies, the market reaction was still evident. However, USDT's position in the cryptocurrency market remains strong, with a market capitalization of $120 billion and a 24-hour trading volume reaching $32 billion, indicating that market trust in it is recovering.
Moreover, Tether is actively expanding its business, recently previewing a local artificial intelligence development toolkit that supports multiple AI models and emphasizes privacy and peer-to-peer technology. This innovative initiative undoubtedly adds more possibilities for Tether's future development.
In the current complex market environment, Tether showcases strong market resilience with its robust reserves and continuously expanding business layout. What are your thoughts on this? Feel free to share your opinions in the comments!