Tether's Bitcoin Holdings Surpass $5 Billion as Company Continues to Buy the Cryptocurrency
According to blockchain data, Tether, the stablecoin issuer, now holds over $5 billion worth of Bitcoin, with more than 75,354 Bitcoin in its wallet. Tether has been buying the largest digital asset by market cap as part of its strategy, and has said that it would allocate up to 15% of its net realized operating profits towards purchasing Bitcoin. The stablecoin is widely used by traders for buying and selling digital assets, and has a much higher 24-hour trading volume mark than Bitcoin. Tether has been criticized in the past for not being transparent enough about what backs USDT, and news reports have claimed the cryptocurrency is used to break the law.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Donald Trump’s Cryptocurrency Project Offers a Hot Deal to All Other Altcoins
Cardano (ADA) Founder Hoskinson Signals Collaboration with Ripple (XRP) and a Surprise Altcoin
Cardano founder Charles Hoskinson signaled cooperation with two different altcoins in his statement. Here are the details.
The Daily: What's next for crypto after the Trump tariff tantrum, South Korea's 'kimchi premium' soars to 10-month high and more
Crypto markets crashed after President Trump’s weekend tariff announcements, with bitcoin dropping over 10%, ether plunging 36% and leading memecoins falling more than 40% amid broad risk-off sentiment.South Korea’s bitcoin “kimchi premium” surged to a 10-month high of 9.7% on Monday as local prices remained steady amid a broader global crypto sell-off, according to data from CryptoQuant.
ApeChain’s Spotlight Loyalty Program: How Can You Earn Rewards?
Trending news
MoreCrypto prices
More
