The company has, however, received a fair amount of scrutiny over the years for its opaque reserve management, having at one point risky backing assets like Chinese commercial paper and credit to now-bankrupt crypto lender Celsius, and a lack of independent audits – a deeper financial analysis than attestations. It now says it is backed mainly by more secure investments such as U.S. Treasury bills, repurchase agreements and deposits in money market funds.

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• Source: https://www.coindesk.com/markets/2024/03/04/tethers-usdt-stablecoin-touches-100b-market-cap-benefiting-from-crypto-trading-frenzy/?utm_medium=referral&utm_source=rss&utm_campaign=headlines