Warum sich Tether eher wie eine Zentralbank als wie ein Stablecoin verhält

tldr; Tether, originally a stablecoin issuer, now operates more like a private central bank for the crypto economy. It manages a Treasury-heavy balance sheet with $181.2 billion in reserves, generating over $10 billion in profit in 2025 due to high interest rates. Tether mints and redeems USDT, manages reserves in Treasurys, and uses policy-like tools such as freezing wallets and shifting blockchain support. However, it lacks a public mandate, sovereign backstop, and full financial audits, distinguishing it from traditional central banks.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.