According to a recent report by The Wall Street Journal, Tether made a net profit of $6.2 billion in 2023. This figure drew attention by surpassing the net profit of BlackRock, one of the world's leading asset management companies, which made $5.5 billion. However, there are also growing concerns that Tether could undermine the US's global sanctions efforts.
The report criticizes Tether for meticulously conducting direct customer audits while failing to regulate the secondary markets where most USDT transactions take place. This lack of oversight is cited as a major concern for regulators, despite Tether’s trading volume being similar to Visa cards. The company operates with just under 100 employees, a stark contrast to BlackRock’s large workforce.
According to a January 2023 United Nations report, Tether’s USDT is widely used as a money laundering tool in Southeast Asia. The stablecoin’s prevalence in unregulated secondary markets makes it attractive for illicit activities such as money laundering and sanctions evasion. While Tether has the authority to track transactions on its public blockchain ledger and freeze USDT in wallets, this authority does not eliminate all risks. As the US government increases its crackdown on sanctions and financial fraud, Tether’s role is becoming an increasingly bigger problem.
The growing influence of stablecoins in the financial ecosystem, operating in an unregulated space, could complicate U.S. efforts to effectively enforce global financial sanctions, posing a serious problem for the stablecoin industry.
Tether’s $6.2 billion net profit shows that big profits can be made in unregulated markets.
The widespread use of USDT in money laundering in Southeast Asia highlights the role of stablecoins in illicit activities.
Tether’s ability to manage large transaction volumes with a small number of employees demonstrates how technology reduces the need for human resources.
As a result, Tether’s growth and profits require greater attention in regulating and supervising cryptocurrency markets, with regulatory bodies needing to focus more on preventing the use of such technologies in illicit activities.
FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.
My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE ESPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.
Now I will explain how you will receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who can benefit?
Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.
I EXPLAIN IN DETAILED.
My brothers and sisters who have become Binance members without a reference, please listen carefully;
When you do what I say in order, you will receive 10 USDT.
Go to the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.
The first 1,000 brothers who open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this; even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.
It's very simple. Go to futures, enter my 88623008 referral code and activate the account. Then just open a transaction of 200 usdt in total and get the 10 usdt reward.
WHEN WILL THE REWARD COME?
Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.
You can share this post with your friends in need so that they can also benefit from it.
IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.