BTC $62,977.93 +0.34%
ETH $1,878.56 +0.28%
BNB $610.97 +0.97%
XRP $1.00 -0.01%
SOL $75.22 -0.25%
TRX $0.3318 -0.42%
DOGE $0.0699 +0.88%
ADA $0.1789 -0.39%
BCH $204.67 -0.22%
LINK $9.33 +6.18%
HYPE $55.90 -1.10%
AAVE $86.98 +0.49%
SUI $0.6828 +1.08%
XLM $0.1581 -0.23%
ZEC $488.82 +0.37%
BTC $62,977.93 +0.34%
ETH $1,878.56 +0.28%
BNB $610.97 +0.97%
XRP $1.00 -0.01%
SOL $75.22 -0.25%
TRX $0.3318 -0.42%
DOGE $0.0699 +0.88%
ADA $0.1789 -0.39%
BCH $204.67 -0.22%
LINK $9.33 +6.18%
HYPE $55.90 -1.10%
AAVE $86.98 +0.49%
SUI $0.6828 +1.08%
XLM $0.1581 -0.23%
ZEC $488.82 +0.37%

usdt

USDT (Tether) is a stablecoin pegged to the US dollar, classified as an ERC-20 token, and is widely used for trading and payments in the cryptocurrency market. USDT maintains its value stability by holding an equivalent reserve of fiat currency, aiming to provide investors with a hedging tool and liquidity support. It is widely accepted on exchanges, becoming one of the most liquid stablecoins in the cryptocurrency market, but it has also faced scrutiny due to issues of transparency and regulatory compliance.
All
Article
Flash

Tether CEO responds to doubts after KPMG's first complete audit, we have proven ourselves multiple times

Tether CEO Paolo Ardoino, in an interview with The Block, responded to ongoing criticisms raised after KPMG U.S. completed its first full financial audit. He stated that some critics are unable to admit that their past judgments about Tether were wrong, and said, "Honestly, I don't care." Ardoino mentioned that Tether has repeatedly proven its resilience.He noted that in 2022, Tether processed $7 billion in redemptions within 48 hours, which was about 10% of its reserves at the time, and there was no pause in redemptions during that period. He believes that many traditional financial institutions would struggle to handle withdrawals of a similar scale in such a short time. He also stated that criticism itself is not a bad thing, as it makes Tether better and stronger. Even if some critics view it as a "villain," as long as Tether can continue to serve its claimed 650 million users who rely on USDT, especially in emerging markets, he does not mind.According to informed sources, Tether, as a private company, will not publicly share audited financial statements. The company plans to conduct a full audit once a year in the future while continuing to release quarterly attestation reports. Overall, the KPMG audit is an important step for Tether to enhance transparency, but controversies surrounding its reserves, disclosure levels, and systemic impact have not completely dissipated.
app_icon
ChainCatcher Building the Web3 world with innovations.