Next Year Could See Tether Release Real-time Reserves Data, CEO Says

Tether is committing towards enhanced transparency. Paolo Ardoino, the stablecoin issuer’s future CEO as of December, shared with Bloomberg the company’s intention to unveil real-time proof-of-reserves in the upcoming year. However, Tether remains open-ended about the exact timeframe for this rollout.

While Tether already displays daily reserve data on its website, the most recent stats spotlight an impressive $84.15 billion in USDT. Notably, this US dollar-backed crypto asset ranks as the top stablecoin in the crypto domain.

USDT stands out with trading volume surpassing all other cryptocurrencies, including the prominent Bitcoin (BTC). The rising influence of Tether in the market hasn’t gone unnoticed. Santiment, a renowned blockchain analytics platform, highlighted a significant surge of Tether moving back to crypto exchanges. This shift is frequently interpreted as a positive market indicator. As per Santiment’s analysis, the current $9.99 billion USDT in exchanges marks the most substantial “buying power” peak for the leading stablecoin in about seven months, recording a 40% spike since June 13th.

Apart from focusing on reserve transparency, Ardoino is steering Tether towards broader horizons. He envisions bolstering technological advancements, initiating dialogues with regulators, and delving into the realm of renewable energy.