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 accordance with new information from crypto rating platform CoinGecko, USDT has seen its whole 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 steadily being utilized by criminals to launder cash and commit fraud in elements of Asia.
In accordance with a report revealed by the United Nations Workplace on Medication and Crime (UNODC), dangerous actors in East and Southeast Asia desire utilizing USDT on the Tron (TRX) blockchain as Tether presents higher anonymity, decrease charges and extra stability.
Nonetheless, Tether denies the declare and says that utilizing USDT for illicit actions is tough because it collaborates with quite a few regulation enforcement businesses to trace and monitor transactions.
Tether is continuous an enormous accumulation of Bitcoin (BTC), pushing its reserves of the flagship digital asset as much as $2.8 billion.
In accordance 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 the earth.
Tether at present holds round 66,400 BTC, in line with CrypoQuant founder and chief government Ki Younger Ju.
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