USDT stablecoin reaches 0 billion market value, benefiting from Crypto trading frenzy.

The company, however, has faced a considerable amount of scrutiny over the years for its opaque reserve management, at one point holding risky assets like Chinese commercial paper and extending credit to now bankrupt Crypto lender Celsius, as well as a lack of independent audits – a more thorough financial analysis than attestations. It now claims to be primarily backed by safer investments such as US Treasury bonds, repurchase agreements, and deposits in money market funds.