Daily transaction volume for Tether sees all-time high
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Tether (USDT), the controversial stablecoin issued by Tether Limited, has experienced its highest daily volume since first being issued in 2015. According to data from CoinMetrics.io, on March 31, 2019, there were 38,150 USDT transactions processed. Recently, Tether Limited updated its website to clarify how its reserves are made up. The company now claims that each coin is backed by "reserves, which include traditional currency and cash equivalents and, from time to time,...other assets and receivables from loans made by Tether to third parties."
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Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi
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