Two thirds of Tether is owned and thus controlled by only two companies

The most famous and at the same time the most used stablecoin in the world Tether (USDT) is very often the target of criticism and basically, since its inception, there is a huge number of people who simply do not trust this cryptocurrency. Rather, they do not trust Tether Limited because of the constant printing of new coins. Tether (USDT) belongs to the already mentioned category of stablecoin, which includes, for example, USDC or DAI. Recently, however, we learned from a survey of journalists from Protos that Tether is more than 70% controlled by only two companies, which certainly does not add to the trust of this coin. These include Alameda Research and Cumberland Global.

Cumberland Global is a global liquidity provider, founded in 1992, and is considered one of the largest financial traders. The second named company is closely connected with another company, which is the FTX crypto exchange. According to statistics, this company accounted for almost a third of all Tether coins (USDT). It is also interesting to note that Tether recorded the largest and literally exponential growth just after the establishment of the FTX crypto exchange. It is also interesting that the capitalization was about $ 20 billion (USDT) at the beginning of this year, while today it is over $ 60 billion (USDT), which represents an increase of more than 200%.