Tether, the company behind the largest stablecoin in the world, announced that it is restructuring to broaden its presence in the digital asset sector.
On Thursdays announcement, the entity behind USDT revealed the establishment of four new departments, expanding their area of concern.
The four main sectors are named Data, Finance, Energy (Power), and Education. They will be responsible for making significant tech investments, setting up financial frameworks, managing bitcoin mining operations, and providing digital learning opportunities, respectively.
USDT holds the title as the globe’s leading stablecoin, valued over $100 billion in market capitalization. Stablecoins are a type of cryptocurrency whose value remains constant by being linked to real-world assets, most commonly the U.S. dollar. Nevertheless, Tether, the issuer of USDT, has faced intense scrutiny due to concerns surrounding the transparency of the reserves backing this stablecoin.
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2024-04-18 14:30