Stablecoin issuer Tether plans to release real-time reserve reports next year, according to new CEO Paolo Ardoino.
Ardoino, who wants become CEO of the company in December this year, tells Bloomberg that the company plans to publish real-time proof-of-reserves sometime next year, although Tether itself says there is no “hard” deadline for the plans.
Tether already offers daily reserve reports on its website. At the time of publication: Tether’s data reports that it has $84.15 billion in USDT, its US dollar-backed crypto asset that is the largest stablecoin on the market.
Ardoino also says his goals for Tether next year include increasing technology investments, talking to regulators and expanding into renewable energy.
USDT has more long-term trading volume than any other crypto asset, even Bitcoin (BTC).
Last week, blockchain analytics platform Santiment said huge amounts of stablecoin Tether are returning to crypto exchanges, which is often a bullish signal.
The analytics platform said that the amount of USDT on exchanges has reached levels last seen in March 2023, boosting the “purchasing power” of crypto investors.
“The $9.99 billion worth of Tether listed on exchanges is the highest level of purchasing power for crypto’s top stablecoin in about seven months. Since June 13, these exchanges have seen a 40% increase in available USDT.”
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