USDT holders have taken $ 10 billion to Fiat from the beginning of May

Since the beginning of May, Tether Holdings Limited Індія закликає bought tokens from USDT holders in the amount of $ 10 billion. About this writes The Guardian.

The publication notes that users began to go to Fiat against the background of the collapse of the algorithmic stablecoin UST and Luna token. On May 12, the USDT price has briefly lost the US dollar – then the issuer bought assets of $ 600 million per day, according to CTO Tether Paolo Ardoino.

The media indicates that over the past few days Tether has repaid USDT totaling $ 2.5 billion. At the time of writing, stablecoin is traded at $ 0.99. The capitalization of the asset exceeds $ 73 billion, according to Coingecco.

Recall that in the first quarter of 2022, the USDT issuer reduced reserves in commercial securities by 17%. By the end of June, Tether Holdings Limited plans to reduce the volume of security in these assets by another 20%.

In May, the company Circle, the operator of the second according to the capitalization of Stebblecoin USD Coin, began to disclose information about the state of reserves on a weekly basis.

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