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Tether CEO: More than 300 million people around the world use USDT, and Tether is the main buyer of US Treasury bonds

According to Be In Crypto, Paolo Ardoino, CEO of Tether, recently emphasized the important role of USDT in driving demand for the US dollar in emerging markets. Ardoino revealed that over 300 million people worldwide use USDT as digital dollars, providing basic financial services to communities in developing countries. This stablecoin improves the efficiency of fund transfer and storage, bypassing the traditional financial system that often excludes people with inadequate banking services. This means that if Tether's USDT usage is equivalent to that of a country, its economic size will exceed countries like Indonesia, Pakistan, and Nigeria. Therefore, the high acceptance of USDT has a significant impact on the global financial system.Ardoino pointed out that Tether is one of the top three buyers of short-term US government bonds globally, and overall ranks among the top twenty buyers. This reflects Tether's increasing influence in the financial sector and the increasing integration of virtual assets with the traditional financial system. Ardoino's comments were in response to an article that pointed out that dollar-backed stablecoins are fueling demand for US public debt.

Tether CEO: USDT is one of the top three buyers of US short-term Treasury bonds in the world

Tether CEO Paolo Ardoino posted on X, stating that according to a report from WSJ, "dollar-backed stablecoins have created demand for US Treasuries." Over 300 million people worldwide use USDT as digital dollars, providing a lifeline for the entire community of developing countries. These people cannot access full banking services, with most still lacking bank accounts and being affected by high inflation and rapid devaluation of their currency. Tether brings stability to emerging markets through USDT, and is also one of the top three global buyers of US short-term Treasury bills (T-bills), ranking in the top 20 overall.

Tether CEO: Tether may invest a lot of resources to build a P2P financial market terminal based on Holepunch technology

Tether CEO Paolo Ardoino stated in a post on X platform that Tether may invest a large amount of resources to establish a P2P financial market terminal based on Holepunch technology. As humans enjoy the pleasure of getting rid of monopolistic intermediaries in payments, we can also achieve the same results in the financial market data infrastructure. Any exchange in the world will maximize the revenue of its own data while maintaining direct control over its use. The financial market will become more flexible and the world may become a better place as a result.

Tether’s holdings of U.S. Treasuries surpass Germany’s, ranking 19th in the world

Tether released its comprehensive financial data for the first quarter of this year, which showed that as of March 31st, its direct and indirect holdings of US Treasury bonds were worth as much as $91 billion. At the same time, the company also held $5.4 billion worth of Bitcoin. According to data from the Treasury Department in March, Tether is the 19th largest holder of US Treasury bonds among sovereign nations, between South Korea and Germany. Former Speaker of the House, Paul Ryan, called for regulation of stablecoins because Tether's holdings of US Treasury bonds support the digital fortress of the US dollar.

Tether issued USDT worth $266 million yesterday and redeemed USDT worth $103 million

According to ChainArgos monitoring, on May 3, Tether conducted a large-scale issuance and redemption activity. A total of 266 million USDT was issued that day, while 103 million USDT was redeemed.

Tether CEO: Keet's next version will have improved navigation

Paolo Ardoino, CEO of Tether, announced on X platform that the P2P encrypted communication application Keet will bring navigation and performance improvements in the next version.

Tether and Chainalysis enter transaction monitoring partnership

Tether, the largest stablecoin issuer of USDT, announced on Thursday that it has partnered with blockchain monitoring company Chainalysis to monitor the transactions of its tokens in response to increasing regulatory pressure. The company stated that this monitoring system will help Tether identify high-risk cryptocurrency addresses that may be used for illegal activities such as circumventing sanctions or financing terrorism.

Tether redeemed $22 million of USDT yesterday

Tether redeemed 22 million USDT on April 27th.

Data: Tether's net profit in 2023 is $6.2 billion, with only 100 employees

Bitwise President Teddy Fusaro cited Maelstrom data indicating that stablecoin issuer Tether's net profit in 2023 is approximately $6.2 billion, which is 78% of Goldman Sachs' $7.9 billion and 72% of Morgan Stanley's $8.5 billion. However, Tether has only about 100 employees, while Goldman Sachs and Morgan Stanley have 49,000 and 82,000 employees, respectively.

160 million USDT transferred from Tether Treasury to unknown wallet

According to Whale Alert monitoring, at around 20:14 Beijing time, 160,000,000 USDT (160,079,599 USD) was transferred from Tether Treasury to an unknown wallet.