Bitrabo Editorial
To celebrate a decade since its establishment, Tether, the issuer of USDT, has announced a new documentary titled “Stability and Freedom in Chaos.” This film aims to showcase how USDT has been pivotal for users globally facing economic turmoil and hyperinflation. It features personal stories from individuals in countries like Brazil, Argentina, and Turkey, illustrating their use of USDT in daily life.
Today marks 10 years of USD₮!
To celebrate, we’re launching our documentary ‘Stability and Freedom in Chaos’ soon.
Explore how $USDT serves as a lifeline for millions battling inflation and striving for financial freedom globally.pic.twitter.com/oviKmIgpgx
— Tether (@Tether_to) October 6, 2024
A Decade of Impact
Since its launch on October 6, 2014, USDT has transformed the digital currency scene. Originally introduced as Realcoin by Brock Pierce, Reeve Collins, and Craig Sellars, it quickly rebranded to Tether and has since become the leading stablecoin worldwide.
Tether announces a documentary in reflection of USDT’s 10th anniversary
The issuer of the USDT stablecoin, Tether, is set to release a documentary titled “Stability and Freedom in Chaos” for USDT’s 10th anniversary, as reported by Crypto Briefing. This…
— CoinNess Global (@CoinnessGL) October 6, 2024
Currently, USDT ranks as the third largest cryptocurrency globally, following Ethereum and Bitcoin, with a market value of about $120 billion. Its appeal lies in its stability, particularly in regions where local currencies are losing value rapidly.
For example, users in Brazil report that USDT accounts for nearly 90% of their daily transactions. The documentary trailer features personal accounts of individuals discussing the role USDT plays in managing their finances amidst rampant inflation. Its aim is not just to highlight practical uses but also the broader benefits of USDT in promoting financial inclusion and empowerment.
Empowerment in Economically Challenged Regions
This documentary illustrates how USDT serves as a crucial resource for individuals in economically unstable countries. For instance, in high-inflation nations like Argentina and Turkey, many turn to USDT to protect their savings. Paolo Ardoino, CEO of Tether, emphasized the organization’s goal of providing financial tools for those marginalized by traditional banks.
Today marks the 10th anniversary of $USDT and @Tether_to
Tether is driven by a mission to enhance financial inclusion for billions of individuals, primarily in developing areas, who lack access to bank accounts due to insufficient income…
— Paolo Ardoino
(@paoloardoino) October 6, 2024
Ardoino noted that USDT acts as a “digital dollar” for millions globally, with tens of millions of new wallets established each quarter. Tether’s goal is clear: to empower those overlooked by traditional financial systems. He stated, “Our main focus has always been reaching the last mile.”
A Beacon of Resilience
As Tether celebrates this milestone, it also assesses its role in supporting law enforcement efforts against cryptocurrency-related crimes. Recently, Tether assisted the US Department of Justice in seizing over $6 million tied to fraudulent schemes. The company collaborates with more than 180 global enforcement agencies, freezing USDT valued at over $1.8 billion related to illegal activities.
Featured image from Protos, chart from TradingView