The report said the company had been discussing ways to provide billions of dollars in loans to commodity trading companies, and that the company was exploring what role Tether could play in those companies.
Commodity traders rely heavily on credit to finance international deliveries of commodities such as oil and precious metals.
Firms specializing in commodity derivatives such as futures and swaps also need credit to fund their transactions.
As a result, futures contracts pegged to the price of spot cryptocurrencies have become popular. Futures contracts are standardized agreements to buy or sell an underlying asset at a specific date in the future. This allows institutional investors to
They are also popular for speculative purposes, as they play an important role in hedging strategies and allow traders to enhance directional bets through leverage.
According to a September report by the Commodity Futures Trading Commission (CFTC), approximately $290 billion of customer funds were transferred to the market.
The cryptocurrency is held by a broker specializing in crypto and options trading. On July 31, Tether reported record profits of $5.2 billion in the first half of 2024,
The inventory of US government bonds also hit an all-time high. This growth reflects the continued popularity of the USDT stablecoin, which is backed by highly liquid US dollar assets at a 1:1 ratio.
This is based on confirmation by the public accounting firm BDO.
2024/10/15 17:04 KST
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