Tether, the world's largest issuer of stablecoins, announced at a forum in Lugano, Switzerland, that its market capitalization has surpassed $120 billion, outpacing its closest competitor by about 3.47 times. CEO Paolo Ardoino said Tether's reserves include $5.58 billion in Bitcoin and $3.87 billion in gold. Ardoino also explained that US government bonds also have an important place in Tether's reserves, and stated that the total value of these assets is approximately $ 100 billion.
Recently, the Wall Street Journal's news that there is a US investigation into Tether has caused the company to attract attention. While Ardoino described the WSJ's allegations as “a rehash of old allegations”, Tether responded by criticizing the report as “full of irresponsible and baseless allegations”.
