Tether’s effect on the encryption space has grown significantly over the past few years, especially in the first quarter of this year. Although Tether did not publicly recognize any political bills, its presence in the market had an unintended impact.
With the dominant role of Stablecoins and Tether, it is clear that Tether’s position carries the impact on global financial markets and even within American policy.
Tether has an effect
Currently, Tether is one of the largest US Treasury holders in the world. With more than $ 120 billion in US Treasury bonds, Tether is approaching the size of some countries such as Germany in terms of its property.
The ability of one company to retain such large assets gives Tether a unique impact on global financial markets. This massive Holding indicates that Tether’s actions and decisions can form political discourse, especially when it comes to policies related to financing and encrypted currencies.
Tether also dominates the Stablecoin market, and controls 62 % of its total value. With a market ceiling of $ 156 billion, Tether constitutes the lion’s share of the Stablecoin market of $ 251.8 billion. Despite her presence in the large market, Tether remained cautious about direct political participation.
Tercy Jin, MEXC Operations Director, told Beincrypto that Tether prefers to remain neutral in political matters and avoid any general interventions.
“Tether does not have the same pressure in Washington that the US -based companies such as Circle or Coinbase. What is it is the undeniable weight of the market. With the presence of $ 120 billion in the cabinet, the Tether’s financial fingerprint in the American economy is already, regardless of where the company registered.
She added that the USDT, issued by the rope, could be a worker in caring for the global economy.
“Some USDT officials may see as a pure positive for the global spread of the dollar – a type of Trojan horse that exports us the monetary impact for us to parts of the world where the traditional banking system did not reach. This narration could have seemed less threatening and strategically more useful.”
Avoid Tether for direct political participation is worth noting, because it allows the company to maintain a more independent position in the volatile encryption market. Nevertheless, the Jin added that the Tether effect cannot be reduced.
“I don’t think Tether designed the progress of the bill directly, but its huge measure has completely affected the urgency … Tether is mainly a systematic representative in the global markets. When the STADLECOIN source carries more than the debts of the United States more than most countries, IT organizers to take a closer look at the ecosystem they work in.”
Does the genius action receive a special treatment?
The genius law quickly gained support from both liberal and conservative sides, making it one of the most widely supported currency bills. Last week, the genius law passed the stroke vote as it is now awaiting the final vote of the Senate. This step is on the right track to become the first draft encryption law ever approved in the United States, most likely this week.
Trisy Jin noted that the race to become a pro -captain state is likely to feed the insistence that followed the approval of the law of genius quickly.
“The United States has witnessed that Europe is moving forward with Mika, and it was an invitation to wake up. The Genius Law allows America to intervene and determine the compatible and supported form of dollars-backed by dollars-shakes on its own terms. This is attractive to the Republicans and Democrats. The benefit, and banks share more.
Since the draft law is moving towards the final vote, it is clear that the support it received reflects the increasing importance of nails such as Tether in the global economy.
Disintegration
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