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 often 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 Medicine and Crime (UNODC), dangerous actors in East and Southeast Asia want utilizing USDT on the Tron (TRX) blockchain as Tether affords 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 companies 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 price of the highest crypto asset by market cap on the time, making it the Eleventh-largest BTC-holding entity in the world.
Tether presently holds round 66,400 BTC, in accordance with CrypoQuant founder and chief government Ki Younger Ju.
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