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Paolo Ardoino Reveals Tether's Investment Portfolio — Over 120 Companies
Paolo Ardoino, the CEO of the USDT minting company Tether, has just made an announcement revealing part of Tether's venture capital portfolio. He publicly named some companies that Tether has recently invested in, while promising that this list will continue to expand. Tether's Investment Portfolio Revealed According to the tweet, the total list includes over 120 companies supported by investment from the stablecoin issuing giant. Along with posting screenshots of some of these companies in his tweet, Ardoino also added a link to Tether's website and revealed the full list of these business projects.
Starting with the operation of Tether and the issuance of the USD-backed stablecoin USDT, the company has expanded its issuance of stablecoins to many different blockchains and later began launching new products — stablecoins backed not only by the US dollar but also by euros and gold. Currently, USDT is the most popular stablecoin and also the largest stablecoin by market capitalization — over 162 billion USD. Following it is Circle's USDC in this index. Ardoino Faces Backlash from the Cryptocurrency Community In a previously posted tweet, Ardoino revealed that the total number of USDT tokens issued and circulated by Tether is 162 billion.
This statement has caused a negative reaction from the cryptocurrency community, with many starting to criticize Tether for minting assets out of thin air and likening this frequent issuance of USDT to the Federal Reserve printing US dollars without any backing. Unlike US dollars, according to audits and reports from Tether, USDT is not only backed by dollar deposits but also by U.S. Treasury bills and other liquid assets.