USDT Stablecoin Surpasses $100B Market Cap Amid Crypto Liquidity Demand, Despite Longstanding Reserves Concerns
• USDT stablecoin hits $100B market cap for first time, benefiting from crypto trading frenzy • Grew by $2B in past week due to demand for liquidity for crypto trading • USDT is most popular stablecoin, provides liquidity for trading and transfers • Has faced scrutiny over reserve management and lack of audits, now claims USD backing • Grabbed market share in 2022 despite concerns; now has over 70% of $140B stablecoin market