Stablecoin issuer Tether (USDT) is nearing a $100 billion market cap after including about $10 billion to its valuation over the past three months.
In keeping with new knowledge from crypto rating platform CoinGecko, USDT has seen its complete market cap balloon from $84 billion on October fifteenth to over $94 billion on January fifteenth.
Final week, the stablecoin issuer pushed again in opposition to accusations from an company related to the United Nations (UN) that claimed USDT was often being utilized by criminals to launder cash and commit fraud in components of Asia.
In keeping with a report revealed by the United Nations Workplace on Medication and Crime (UNODC), dangerous actors in East and Southeast Asia favor utilizing USDT on the Tron (TRX) blockchain as Tether provides higher anonymity, decrease charges and extra stability.
Nevertheless, Tether denies the declare and says that utilizing USDT for illicit actions is troublesome because it collaborates with quite a few regulation enforcement businesses to trace and monitor transactions.
Tether is continuous a large accumulation of Bitcoin (BTC), pushing its reserves of the flagship digital asset as much as $2.8 billion.
In keeping with market intelligence platform CryptoQuant, in August, Tether was holding simply $1.6 billion value of the highest crypto asset by market cap on the time, making it the Eleventh-largest BTC-holding entity on this planet.
Tether at the moment holds round 66,400 BTC, in line with CrypoQuant founder and chief govt Ki Younger Ju.
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