USDT issuer Tether celebrates its 10th anniversary. In honor of the day, the company released an upcoming documentary titled “Stability and Freedom in Chaos.” This film seeks to highlight the important role that the USDT has played in the financial lives of people living in all nations now facing economic crisis and hyperinflation. It describes real stories from users in several countries: Brazil, Argentina, Turkey, who use USDT in their daily activities.
🎬Today we celebrate 10 years of USD₮ !
To celebrate, we’re launching our documentary ‘Stability and Freedom in Chaos’ soon.
Focus on the journey of how $USDT it has become the lifeblood of millions, fighting inflation and fueling financial freedom around the world. 🌎🤝 pic.twitter.com/oviKmIgpgx— Tether (@Tether_to) October 6, 2024
A Decade of Influence
USDT has changed the digital currency landscape since its inception on October 6, 2014. Brock Pierce, Reeve Collins, and Craig Sellars first introduced Realcoin; however, it quickly changed its name to Tether and became the world’s most valuable stablecoin.
Tether teases documentary to commemorate 10 years of USDT
Tether, the issuer of the USDT stablecoin, has announced the upcoming release of a document titled “Stability and Freedom from Chaos” to celebrate the 10th anniversary of USDT, according to Crypto Briefing. This…
— CoinNess Global (@CoinnessGL) October 6, 2024
Currently, USDT represents the third largest cryptocurrency, after Ethereum and Bitcoin, with a market capitalization of approximately $120 billion. Its main attraction is the strength of its dollar-denominated currency which should work stably in those areas where local currencies are constantly depreciating.
For example, USDT accounts for about 90% of daily transactions in Brazil, according to one user. The documentary trailer includes interviews with people discussing how they are using USDT to manage their financial affairs in the face of rising inflation rates. The purpose of this film is to show USDT’s broader implications for financial inclusion and empowerment, in addition to its functionality.
Financial Inclusion in a High Inflationary Economy
The documentary maintained the USDT as a way of life for people who continue to live in economically depressed areas. Countries like Argentina and Turkey, where inflation can really get out of hand, have seen many people use USDT to protect their currency. Paolo Ardoino, CEO at Tether, made the point that this organization has always wanted to provide financial tools to those who are shunned by conventional banking systems.
Today is the 10th year it was founded $USDT again @Tether_to ✨
Tether built his company with a simple goal: to bring financial inclusion to millions of people, mostly living in developing countries, who cannot have bank accounts (because they don’t generate enough money…
— Paolo Ardoino 🤖🍐 (@paoloardoino) October 6, 2024
He saw USDT being used as a “digital dollar” by hundreds of millions of people around the world, with tens of millions of new wallets being created every quarter.
Ardoino’s vision is unwavering: Tether’s mission is to empower communities and people who are overlooked by traditional financial institutions. As he said, “Our main goal has always been the last mile.”
Symbol of Courage
As Tether remembers this success, it is also thinking about its involvement in legal systems to combat cryptocurrency-related criminal activities. Tether recently assisted the US Department of Justice in the seizure of over $6 million that was associated with fraudulent businesses. The company has partnered with more than 180 law enforcement agencies around the world to freeze more than $1.8 billion in USDT for illegal activities.
Featured image from Protos, chart from TradingView