Tether, the company that issues the USDT stablecoin, has withdrawn over $4.8 billion from its bank accounts.
Tether commented that they want to protect themselves from possible banking collapses.
This decision was also influenced by the fact that competitors of the USDT issuer “have already suffered from overuse of bank deposits as the financial system is having problems”.
It became known that the company has redirected all the capital in the U.S. Treasury bonds and reserves in gold and cryptocurrency (BTC).
Back to News