Tether has disclosed its reserve assets.

Tether CEO Paolo Ardoino took the stage at an event held in Lugano, Switzerland, and detailed the company's rich reserves, including American treasury assets, Bitcoin, and gold. Ardoino also responded strongly to allegations of illegal activities surrounding Tether, emphasizing the company's partnership with law enforcement and its success in combating crime.

The Giant of the Cryptocurrency World, USDT, Reached a Market Value of 120 Billion Dollars

Speaking at the PlanB event held in Lugano, Switzerland, Tether CEO Paolo Ardoino made striking statements regarding the company's financial structure. Following recent allegations against the company, Ardoino showcased Tether's strong reserve structure.

Sharing details of Tether's asset portfolio, the CEO announced that the company holds approximately 100 billion dollars in American treasury bonds. In addition, he stated that they possess over 82,000 Bitcoins and a gold reserve of 48 tons. The Bitcoin assets, valued at approximately 5.5 billion dollars, reinforce the company's strong position in the cryptocurrency market.

After news reports emerged in the foreign press regarding allegations of money laundering and sanctions violations, Ardoino made these statements, firmly denying the allegations. Highlighting Tether's resolute stance on combating crime, the CEO emphasized that they have collaborated with law enforcement to detect approximately 109 million dollars in illegal funds since 2014.

In his speech, Ardoino also expressed criticisms of the U.S. cryptocurrency regulations. He noted that the current regulations have directed many innovative digital asset companies to countries outside the U.S., and he expressed his belief that this situation will change after the 2024 U.S. presidential elections.

The market value of Tether's stablecoin, USDT, has reached 120 billion dollars as of October 2024. This development is seen by investors and analysts in the cryptocurrency market as a sign that the market is entering a bullish trend.