The Wall Street Journal reports that Tether, the company behind the development of USDT, announced a $6.1 billion loan on September 30.
In addition, Tether does not disclose audited financial documents or complete balance sheets for investor review.
Tether’s Lack of Transparency May Trigger FUD in USDT Investors
USDT is the largest stablecoin in the crypto market. And if Tether’s parent company faces financial scandals It can cause a negative impact on the crypto market.
Data from Glassnode found that currently The 21 month supply of USDT is down 11.64% and the top 1% of USDT holders hold 95.322% of the coin’s supply, the highest in 5 months at 95.314% .
USDT hit by FUD ?
According to Dune Analytics, the number of USDT transactions has been steadily decreasing over the past few days, and at the same time, the value of USDT transactions has decreased.
Data from analytics firm Santiment shows that USDT has been increasingly used over the past month on the Polygon (purple) and Ethereum (blue) networks.
but at the same time the use on the Arbitrum network has also decreased.
According to Messari, the number of addresses using USDT increased by 18.83% this month compared to the previous month, but the USDT market cap has decreased by 10.52%, with USDT holding the crypto market share that grew at 7.82%
Source: Ambcrypto
