Tether’s USDT Stablecoin has benefited from the cryptocurrency trading craze, reaching a market capitalization of $100 billion.

However, the company has come under considerable scrutiny over the years for its opaque reserve management, and at one point held risky backing assets such as: Chinese commercial paper and credit transaction Celsius, a now-bankrupt cryptocurrency lender, and lack of independent audits – more in-depth financial analysis is needed than proof. It said it is now primarily backed by safer investments, including U.S. Treasury bonds, repurchase agreements and money market fund deposits.