Crypto investing

Investors withdrew $10 billion from USDT

23.05.2022 09:22
by Artem Ustinov
1 min read

Investors withdrew $10 billion from USDT

The issuing company of Tether, the largest stablecoin by market capitalization, has paid out $10 billion to investors since the beginning of May.

More than $1 billion was withdrawn from USDT on May 21st. Investors cashed out more than $1.5 billion between May 18 and May 20. Investors transfer most of the funds to USDC, which promises to publish reports on a weekly basis.

The mass transfer of funds from USDT is associated with a temporary deviation of the stablecoin from USD. Investors are also frightened by Tether’s vague reporting on USDT stablecoin backing.

Author

  • Crypto analyst and practitioner trader with the law and managerial education. Active investor and crypto enthusiast. Worked as an analyst and copywriter in a brokerage company. Accompanied by DAO and NFT projects of different levels of complexity.

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