Tether Is Becoming a Financial Giant in Plain Sight

[chainsniff]

Tether’s balance sheet is starting to look less like a crypto startup — and more like a sovereign entity.

Total reserves reached $192.9B, including $141.6B in US Treasuries, a level that would rank Tether among the largest Treasury holders in the world if it were a country. The company has also diversified into 96,184 BTC and 127.5 metric tons of gold.

At the same time, on-chain activity hit records: 139.1M holders, 24.8M monthly active users, and $4.4T transferred on-chain in Q4. USDT now accounts for 61.5% of spot trading volume on centralized exchanges.

Quietly, USDT has become the backbone of crypto liquidity.

#Tether #StablecoinEconomy #Treasuries #OnchainData

[etfs]

usdt being 60%+ of cex volume kinda says everything about where actual liquidity lives