What’s Trending in Crypto Today? Paolo Ardoino on Tether’s Growth, & More
Paolo Ardoino shared stats revealing Tether’s growth in 2024, while key Ethereum figures gather around the table, and Mark ‘Billy’ Zeller analyzes his portfolio performance over the years.
On this page
Here’s a recap of three of the most popular posts on X/Twitter.
1. Tether Was the 7th Largest Buyer of US Treasuries in 2024: Paolo Ardoino
Tether CEO Paolo Ardoino revealed that the company has surpassed countries like Canada, Taiwan, and Norway to become the 7th largest buyer of U.S. Treasuries in 2024, adding over $33 billion to its holdings.
Tether, the issuer of the USDT stablecoin, holds U.S. Treasury reserves to back its circulating tokens. Since USDT is 1:1 backed by the U.S. dollar, Tether buys U.S. Treasuries to ensure liquidity and generate profits.
Ardoino’s chart highlights the growing demand for USDT and Tether’s growth in 2024. The countries with larger U.S. Treasury holdings than Tether include the Cayman Islands, France, Luxembourg, Belgium, Singapore, and the UK.
Tether’s large U.S. Treasury purchases drive demand for U.S. government debt, potentially lowering borrowing costs. However, concerns about concentration risk arise – if Tether were to sell its holdings or face a crisis, its outsized position could disrupt the Treasury markets.
2. Matt Huang Shares Photo of Strategic Ethereum Dinner with Key Figures
A new photo shared by Paradigm co-founder Matt Huang features people taking an important role in the development of Ethereum and the whole crypto industry.
Gathered for strategic discussion, the photo includes Paradigm CEO Georgios Konstantopoulos and COO Alana Palmedo, Coinbase’s Brian Armstrong, Ethereum researchers and builders Ansgar Dietrichs, Danny Ryan, and Tomasz Stańczak.
Huang used the “eth/acc” tag for the post, which stands for Ethereum acceleration, a concept pushed by Paradigm to speed up Ethereum's protocol improvements.
What exactly they discussed stays within their circle.
3. Change in Market Dynamics: A Reflection by Mark Zeller
Mark Zeller, founder of the Aave Chain Initiative (ACI), shared a personal reflection on his past angel investments. In 2021, he invested $25,000 in a project that has since lost nearly all of its value, now with only $32 in daily trading volume—marking a staggering -99.9% decrease over four years.
Zeller highlights how market dynamics have drastically shifted. Now, you can lose 99.9% of your investment in just four minutes, not four years, on memecoin launchpads like Pump.fun.
This stark contrast reflects the rapid industry growth and the incredible speed at which assets can experience volatility.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
