Tether’s Market Cap Hits $84 Billion

Tether (USDT) remains a central figure in the cryptocurrency scene with multiple developments unfolding.

Starting with its financial growth, Tether’s market capitalization has surged to a groundbreaking $84 billion. This elevation is influenced in part by the optimistic environment fostered by the anticipated Bitcoin spot ETF launches that seem to have been cleared in the past week.

However, it’s not just its valuation that’s in the spotlight. Tether is ongoingly taking considerable efforts towards integrity. Recently, the firm disclosed disabling 32 wallet addresses allegedly associated with illicit activities, with some linked to concerning situations in regions like Israel and Ukraine.

Tether Holdings has also been in the news for its upcoming leadership reshuffle. Paolo Ardoino, a renowned Italian software engineer, is on deck to become the company’s chief executive. This move is particularly interesting given Ardoino’s approach to media engagement, a departure from Tether’s traditionally reserved public image.

During a candid interaction with CNBC earlier, Ardoino championed the idea of a full audit for Tether. He addressed concerns, clarifying that the broader stablecoin industry’s infrequent audits aren’t necessarily a sign of issuer apprehension.