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Tether is the issuer of the stablecoin USDT, which is a cryptocurrency whose value is pegged to the US dollar on a nearly one-to-one basis. The company receives dollars in exchange for the tokens it issues and makes money from those reserves by investing in assets like gold. Since its launch in 2014, USDT has grown to become the largest cryptocurrency by trading volume, with approximately 159 billion dollars currently in circulation. According to the company's latest report released in March, gold makes up 5% of its reserves, with a market value of nearly 8 billion dollars.

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