Tether claims to bring financial prosperity to those left behind, especially in developing countries.
Tether makes a movie about USDT to celebrate its 10th anniversary. Photo: The Block
Tether , the parent company of the USDT stablecoin, is set to release a documentary to mark the company's 10th anniversary. The film will focus on USDT 's impact in protecting millions of people from inflation and currency devaluation.
🎬Today marks 10 years of USD₮ !
— Tether (@Tether_to) October 6, 2024
To celebrate, we're launching our documentary 'Stability and Freedom in Chaos' soon.
Dive into the journey of how $ USDT has become a lifeline for millions, fighting inflation and fueling financial freedom worldwide. 🌎🤝 pic.twitter.com/oviKmIgpgx
Tether CEO Paolo Ardoino said the company will continue to bring financial opportunities to those left behind. In the trailer, Tether interviewed several users in Turkey, Brazil, and Argentina, countries struggling with high inflation rates.
One of the respondents said that Tether 's USDT accounts for about 90% of daily transactions in Brazil. USDT usage in Brazil has skyrocketed in 2023 , accounting for 80% of crypto transactions in the country.
As mentioned earlier, Tether is celebrating its 10th anniversary. Tether ’s first Token was issued on October 6, 2014, and was founded by entrepreneur Brock Pierce, along with Reeve Collins and software engineer Craig Sellars. The project was originally called Realcoin , which laid the foundation for Tether ’s operations before changing its name to what it is today.
Tether operates on the basic principle of providing Token that represent fiat currencies at a 1:1 exchange rate, along with the ability to move assets globally through blockchain technology. USDT was initially built and operated on the Bitcoin blockchain through the OmniLayer protocol. USDT has since expanded to many other blockchains such as Ethereum, TRON , and The Open Network (TON).
With a market Capital of $120 billion, USDT is still the largest stablecoin, accounting for 75% of the stablecoin market share , and is the 3rd largest cryptocurrency, after Bitcoin and Ethereum.
CoinMarketCap screenshot at 10:00 AM on October 7, 2024
Tether aims to bring financial opportunity to every person, community, and country. In a post on X, Paolo Ardoino said his company has become “a symbol of disintermediation, resilience, and stability.”
Today is the 10th anniversary of $ USDT and @Tether_to ✨
— Paolo Ardoino 🤖🍐 (@paoloardoino) October 6, 2024
Tether has built its company on a simple mission: bring financial inclusion to the billions of people, mainly living in developing countries, that can't have bank accounts (because they're not generating enough revenues… https://t.co/PdL6gGWDRv
While the wealthy often have the means to transact and accumulate wealth, Tether chooses to bring finance to those who do not have access to the traditional banking system, often because they do not generate enough revenue to be served by banks, Ardoino argues.
On September 27, Tether assisted the U.S. Department of Justice in seizing over $6 million in connection with a cryptocurrency scam in Southeast Asia. The U.S. Attorney’s Office in Washington, DC publicly thanked Tether.
To date, Tether has cooperated with approximately 180 law enforcement agencies in 45 countries, coordinating the freezing of over $1.8 billion USDT related to criminal activity. In addition to the asset seizure, Tether has returned over $128 million to its rightful owners, and blocked over 1,850 illegal wallets.
CEO Paolo Ardoino is committed to supporting global law enforcement to prevent cryptocurrency abuse, ready to coordinate to expose bad actors to the law and protect victims.
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