Tether, a firm known for its fiat-pegged stablecoins, has announced that for the first time, its stablecoins are backed up to 90% by cash and cash equivalents. This move is seen as a commitment to responsible risk management in the crypto and stablecoin market. CEO Paolo Ardoino emphasized that this signifies Tether’s dedication to transparency and trust, showcasing the firm’s leadership in the cryptocurrency industry.
Tether bags $4.5b profit in Q1
