💵 And again, Tether...
Tether seems to have remembered its promise to comply with US sanctions and has frozen several addresses with a total balance of $47 million.
🔽 However, things are not as good for the company as they might seem at first glance. Criticism of the project is growing, and there is a trend of major market participants gradually moving away from USDT.
Tether has not advanced in solving important issues:
🟢 increasing the transparency of reserves;
🟢 conducting a full audit;
🟢 obtaining US and European licenses.
❌ Even basic information about correspondent banks where the reserves are located is still kept strictly confidential.
⛔️ This year, the MiCA bill will come into effect in the EU. To meet the requirements, Binance, OKX, and Uphold have already announced restrictions or a complete refusal to use USDT in Europe.
🔼 This has led to USDC significantly surpassing USDT in transaction volume in 2024.
