Tether (USDT), the world’s largest stablecoin by market capitalization, was one of the dollar-pegged cryptocurrencies to have been affected by the collapse of the Terra ecosystem. Now – a year later, the stablecoin has reclaimed its stable dollar peg and boasts one of the deepest reserves in the cryptocurrency industry.
Prominent Crypto Figure Dubs Tether A ‘Precious Metals Powerhouse’
Gabor Gurbacs, on Friday, May 12, provided an insight into the significance of precious metals to Tether’s financial setup. Interestingly, Gurbacs, the founder of PointsVille, dubbed Tether’s USDT a “precious metals powerhouse”.
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According to Gurbacs’ tweet, Tether Holdings Limited, the issuer of the USDT stablecoin, has placed substantial importance on gold, forging a solid reputation in the industry. His tweet also reveals that USDT, the third-largest
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