13:05 ▪ 4 minutes read ▪ Written by Michael A.
Tether is entering a period of maturity after 10 years as the stablecoin leader with the famous USDT. The company is celebrating its journey by releasing a documentary tracing its global impact. The film, titled “Stability and Freedom in Chaos,” focuses on the large-scale adoption of stablecoins in countries where inflation is rampant. the goal? To show how the USDT crypto has become a real shield against economic instability.
How Tether Shaped the Cryptocurrency Market
Since 2014, Tether news has roiled the cryptocurrency market. The idea of Brock Pierce and his friends to link a digital currency to the dollar led to the creation of the USDT stablecoin. What is their purpose? To provide stable value in the ever-changing financial world. In other words, lead the fight against financial instability. As a result, Tether is now an essential player in the cryptocurrency ecosystem.
Over the years, USDT has been integrated into a number of blockchains such as Ethereum (ETH) and TRON (TRX), increasing its use on decentralized platforms.
Traders looking for stability at all times quickly turned to this stablecoin. For them, USDT has become a safe haven in the most volatile markets.
And with a market capitalization of $120 billion, Tether remains a giant in the cryptocurrency space.
Tether market capitalization trends since 2016 – Source: CoinMarketCap
Important role of USDT crypto against inflation
USDT not only established itself in the crypto world, but also inspired imitators in countries grappling with rampant inflation. This is the case in Argentina, Brazil, and Turkey, three countries where economic instability is endemic.
In the face of national currency collapse, many are turning to stablecoins to maintain purchasing power.
Argentina has had an inflation rate of over 100% since 2023. In Türkiye, the weak lira is a disaster for savers. In Brazil, many citizens do not have access to traditional banks.
In this context, USDT crypto emerges as a solution to avert the crisis. “Tether is a lifeline,” said CEO Paolo Ardoino, reminding us that the impact of stablecoins goes far beyond the realm of trading.
Tether and its shadow despite development
Tether has won the hearts of users, but its path hasn’t been without its challenges. The company has often faced criticism for a lack of transparency about its reserves. Many have pointed to the lack of regular independent audits, calling into question the solidity of the financial guarantees supporting USDT.
🎬Today marks the 10th anniversary of USD₮!
To commemorate this occasion, we will soon be releasing a documentary titled “Stability and Freedom in Chaos”.
how to travel $USDT is a lifeline for millions of people, fighting inflation and promoting economic freedom around the world. 🌎🤝 pic.twitter.com/oviKmIgpgx
— Tether (@Tether_to) October 6, 2024
Additionally, Tether has been accused of manipulating the Bitcoin (BTC) market on multiple occasions. However, these criticisms do not prevent the company from flourishing, as evidenced by the release of the documentary. The film reflects these shadows while reaffirming Tether’s commitment to providing stable solutions in an ever-changing world.
5.2 billion in profits in the second half of 2024, Tether continues to outperform financial giants like BlackRock. Ten years after its founding, the company not only withstood the crisis, but came out stronger than ever.
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Micaiah A.
Blockchain and virtual currency revolution! Affect the fragile social situation, have a serious impact on the economic society, and solve the problems of your choice.
Disclaimer
The views, ideas and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Please do your own research before making any investment decisions.
