Post
Topic
Board Altcoin Discussion
Re: Tether Market Cap 100 billion today vs less than 5 billion 2020
by
kentrolla
on 07/03/2024, 20:34:45 UTC
EDIT: especially the question: how backed up is tether really and how verified are the information they are putting out?
You can check some transparent reports from Tether on their website.
https://tether.to/en/transparency/#usdt

They usually publish quarterly reports from audit companies.
https://tether.to/en/transparency/#reports. On this page, you can see Tether Reserves Breakdown information as well.

The latest report https://assets.ctfassets.net/vyse88cgwfbl/7DZ8nVyr8zTaWhJqTIsMsH/b8e55bc151c9bb74adf20ff840e84088/ESO.03.01_Std_ISAE_3000R_Opinion_31-12-2023_BDO_Tether_CRR_RC134792023BD0684__1_.pdf

I wanna say two things the first one being people use Tether just as an digital Alternative to USD and  that's the only reason people use it to save in crypto domain to avoid risking any market fluctuations. Secondly, there has been issues in the past whether Tether is really holding USD equivalent to the amount of USDT in supply? And these numbers and audits are published by the themselves not by any third party hence it's unreliable and pmi think it's just a matter of time USDT may see bad days