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Usdt
As of August 1, 2024, Tether reported having $118.4 billion in reserves, including $5.3 billion in excess reserves. In the second quarter of 2024, the company achieved profit of $1.3 billion, contributing to a total profit of $5.2 billion for the first half of the year. Tether Limited also disclosed a net equity of $11.9 billion, and the stablecoin's market capitalization exceeded $114 billion.[5][6]
Tether faces criticism regarding the transparency and verifiability of its claimed fiat reserves.[7]
Tether is the largest cryptocurrency in terms of trading volume, holding 70% of the market share among stablecoins. In 2019, it surpassed bitcoin to become the most traded cryptocurrency globally.[8][9][10] As of July 2024, Tether has more than 350 million users worldwide.[11]
Tether Limited is owned by iFinex, a company based in the British Virgin Islands which also operates the Bitfinex cryptocurrency exchange.[12] As of January 2024, Tether's official website lists fourteen protocols and blockchains on which Tether has been minted.[1]
This article does not constitute investment advice, nor is it an offer or invitation to purchase any digital assets.
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