OKX Publishes 17th Proof of Reserves Showing $22.2B in Assets
With its monthly provision of PoR, which allows users to estimate the company’s health, the exchange has continued to prove to users that their funds are safe.
$1.00
1H
0.03%$0.0003
24H
-0.24%$0.0024
7D
-0.06%$0.0006
30D
-0.06%$0.0006
Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. Tether works to disrupt the conventional financial system via a more modern approach to money. It has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratized cross-border transactions across the blockchain.
Tether’s USDT stablecoin belongs to a new breed of cryptocurrencies that were developed in order to maintain stable value, something that is fundamentally lacking from traditional cryptocurrencies. Pegged against the US dollar at a 1:1 ratio, Tether builds the necessary bridge between fiat currencies and cryptocurrencies while ensuring stability, transparency, and minimal transaction charges to users.
Tether tokens exist as digital tokens built on Bitcoin (Omni and Liquid Protocol), Ethereum, EOS, Tron, Algorand, SLP, and OMGblockchains. These transport protocols consist of open source software that interfaces with blockchains, allowing for the issuance and redemption of USDT tokens. Being 100% backed by Tether’s reserves, Tether tokens are redeemable and exchangeable pursuant to Tether Limited’s terms of service.
With its monthly provision of PoR, which allows users to estimate the company’s health, the exchange has continued to prove to users that their funds are safe.
While some users successfully withdrew their funds from KuCoin, others expressed concern about the platform’s solvency.
Tether, the leading cryptocurrency firm, is making waves with its strategic foray into the realm of Artificial Intelligence (AI). With a focus on innovation and transparency, Tether aims to reshape the landscape of AI technology, setting new standards for accessibility and efficiency.
Beyond stablecoins, the report also touches upon the sentiment within the crypto market, noting that the fear and greed index entered the “extreme greed” territory in late February.
As described by the stablecoin issuer, the Celo fee advantage will help it connect more with users in socio-economically disadvantaged regions.