Tether, one of the largest stablecoin issuers, has disclosed details about its investment activities, indicating more than 120 companies backing USDT.
Tether's Investment Disclosure
According to Tether's CEO Paolo Ardoino, the company has invested in over 120 companies, a number that is likely to increase in the coming months. This information was shared in a tweet where Ardoino also provided the Tether website address where these companies can be viewed. This move underscores the company's shift towards greater transparency in its operations beyond just issuing stablecoins.
Community Criticism
The announcement of the total issued USDT of 162 billion sparked criticism among crypto community members. Many accused Tether of issuing tokens without sufficient backing, raising doubts about the reserves supporting USDT. Social media users began voicing concerns regarding the perceived lack of transparency in the process, claiming that the tokens might not be backed by real assets.
Potential Implications for Tether
Despite Tether's statements that its reserves include U.S. Treasury bills and dollar deposits, dissatisfaction continues to rise. Revealing these financial links could help strengthen trust in the company and validate its position in the digital asset space. Ardoino did not comment on the negative reaction, but the publication of the investment list seems to be aimed at strategically bolstering trust in Tether.
The disclosure of information regarding the support of USDT reserves and comments from Tether help clarify the situation, but also raise questions about real transparency within the stablecoin ecosystem.
