CEO of Tether Paolo Ardoino shared recent investment details of the company, revealing part of their portfolio containing over 120 companies.
Tether's Investment Portfolio
In a recent tweet, Ardoino announced that Tether has invested in more than 120 companies. He published a screenshot listing some of these firms and included a link to Tether's website, where the complete list of ventures is available.
Overview of USDT
Tether started with the issuance of the USDT stablecoin, backed by the US dollar, and later expanded its offerings to include stablecoins backed by the euro and gold. Currently, USDT is the most popular stablecoin, boasting a market capitalization of over $162 billion.
Criticism from the Crypto Community
Following Ardoino's announcement regarding the total USDT tokens issued, the crypto community reacted negatively. Many users criticized Tether for printing assets 'out of thin air,' comparing it to actions taken by the Federal Reserve. Tether claims that USDT is backed not only by dollar deposits but also by US Treasury bills and other liquid assets.
Tether's investment activities and the reactions they provoke highlight the increasing interest in stablecoins and the potential risks associated with their issuance.
