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USDT, the main stablecoin issued by Tether, had grown to a market capitalization of over $150 billion by the end of June.
Moreover, Tether claims that it has grown to be one of "the largest holders of US government debt globally."
Interestingly, despite the substantial growth in Tether's market capitalization, the amount of what Tether calls "equity" (the difference between assets and liabilities) has been remarkably stable.