According to the analysis, only two companies have released the world’s most famous stablecoin (USDT) in recent years, accounting for about 70% of the total.
Journalists from Protos revealed some intriguing facts about the minting of the most popular stablecoin, USDT, as well as the liquidity providers themselves.
The discovery that up to two-thirds of all minted Tethers had been emitted to only two companies in recent years, particularly Alameda Research and Cumberland Global, was the biggest surprise.
In these two organizations, Cumberland Global, the world’s top crypto liquidity provider, has the most control over USDT circulation. The firm is a subsidiary of DRW, a trading firm created in 1992 and is regarded as one of the largest finance traders in the world.
The second position is the previously mentioned Alameda Research, which is also linked to another company, FTX, a cryptocurrency exchange. This corporation accounted for approximately a third of all Tether (USDT) issued, according to statistics.
It’s also worth noting that Tether experienced the fastest and most exponential rise just after the cryptocurrency exchange FTX launched.
The market capitalization is currently $60 billion (USDT), with an expected large increase in 2021. Around $20 billion (USDT) was in circulation at the start of 2021, which implies that another $ 40 billion (USDT) was issued in just eight months, a 200 percent rise.