Big Development in Tether: Decisions on the Future of USDT Announced

The future of cryptocurrency is tied to the success of USDT which is the most popular stablecoin . Keep in mind the disastrous effects of “fear, uncertainty and doubt” on USDT . Tether’s recent actions may have far reaching consequences for the USDT’s future .

Tether Announced Record Profits

Tether reduced the amount of money it had in the bank during the first quarter from $5.3 billion to $481 million so as to lessen the likelihood of bankruptcy . Tether is now holding 4% of its holdings in gold and 1.8% of its reserves in Bitcoin, equivalent to around $3.2 billion and $1.45 billion respectively .

As reported in today’s press, “Tether posted a record $1.48 billion net profit in Q1, highlights the success of such businesses. As a result the reserve surplus increased to a new all-time high of $2.44 billion . This safety net which is expected to increase quarterly as Tether becomes profitable inspires confidence among consumers since Tether can readily weather market fluctuations .”

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