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Daily transaction volume for Tether sees all-time high

Steven Zheng

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. 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."