The stablecoin USDT, of which Tether is the issuer, broke the record by reaching the highest market capitalization of all time.
In a post on Tether’s official website on June 1, the USDT market value is a new one. record the highest value reached in 2022 by breaking (ATH) the one which… 83.2 billion announced that he left the dollar behind.
Tether CEO Paolo Ardoino He used the following statements on the subject:
Today’s numbers show that people want access to financial freedom and will use it when that access is given to them. Tether tokens provide a safe haven for those who have no other access and allow them to maintain their purchasing power even as their currencies are devalued.
CEO, as well as in the past to volatility opposite test been taken reserves And transparency users with policies. that they trust stated.
Did NYDFS Lead the Record?
On the other hand, the CEO of Binance, the world’s largest cryptocurrency exchange Changpeng Zhao (CZ) via his official social media account. in the shipmentUS regulator broke Tether’s new record New York Department of Financial Services (NYDFS) with applications connected hinted that it might.
CZ used the following statements in his post on the subject:
Binance USD (BUSD), a fully regulated stablecoin, has been capped by NYDFS with a maximum market cap of $23 billion. It currently has a market value of $5 billion. Since then, USDT has seen tremendous growth.
Also in the same time period from USDT after the highest second market cap stablecoin USDC is also market cap to 40% arriving drop observed.