Stablecoin issuer Tether is planning to release real-time reserves reports by next year, according to its incoming CEO Paolo Ardoino.<\/p>\n
Ardoino, who will become<\/a> the firm\u2019s CEO in December of this year, tells<\/a> Bloomberg that the company plans on publishing real-time proof-of-reserves sometime by next year, though Tether itself says there is no \u201chard-and-fast\u201d deadline for the plans.<\/p>\n Tether already provides daily reserves reports on its website. At time of publishing, Tether\u2019s data reports<\/a> that it has $84.15 billion in USDT<\/a>, its US dollar-backed crypto asset which is the biggest stablecoin on the market.<\/p>\n Ardoino also says his goals for Tether moving into next year include increasing tech investments, talking to regulators and expanding into renewable energy.<\/p>\n USDT does more trading volume than any other crypto asset by a long shot, even Bitcoin (BTC<\/a>).<\/p>\n Last week, blockchain analytics platform Santiment said that huge amounts of stablecoin Tether\u00a0are returning to crypto exchanges, which is often a bullish signal.<\/p>\n The analytics platform\u00a0said<\/a>\u00a0that the amount of USDT on exchanges has reached a level last seen in March 2023, giving a boost to the \u201cbuying power\u201d of crypto investors.<\/p>\n \u201cThe $9.99 billion worth of Tether sitting on exchanges is the highest level of buying power for crypto\u2019s top stablecoin in approximately seven months. Since June 13th, these exchanges have seen a 40% increase in available USDT.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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