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Author: Admin | 2025-04-28
Transparency of Tether, at present, USDT market reserves are not audited. As of today, Tether's market cap is $66,268,895,618. Around $11,106,992,770 of the cryptocurrency stablecoins traded in the last 24 h alone. Tether (USDT) is just one of many stablecoins on the many current crypto exchanges. In the top 10 cryptocurrencies by market cap, apart from USDT, we also have the USDC (market cap of $43,922,152,193) and BUSD (market cap of $16,377,185,225). 4. In contrast, in 11th place, we have DAI (market cap of $5,790,436,026). In the 41st place, we have USDP (market cap of $876,254,775). On the 43rd place is TUSD (market cap of $846,271,617), in the 52nd place is USDD (market cap of $707,743,989) and so on—data from the 8th of January 2023 (CoinMarketCap 2023). From the above-listed stablecoins, USDC has reserves regularly attested but not audited. None of the stablecoins are audited. This creates a systemic risk for all cryptocurrencies, and regulating the stablecoins will not only prevent future loss of savings for individual users and savers (hodlers), but it would increase the confidence in the market. Combined with a regulated crypto exchange, it would provide security and quick exit for investors during times of volatility. In the final comment on CBDCs, we must point out that the view emerging from this article is not sympathetic to the values of society and economy from CBDCs. Although CBDCs would resolve many issues related to fluctuations in the price of all cryptocurrencies, the stablecoin solution could be a preferred
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