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The stablecoin issuer announced in May 2023 that it would start buying bitcoin in an effort to diversify the backing of its USDT stablecoin.

The company's flagship stablecoin USDT is the third-largest cryptocurrency with a $120 billion market capitalization.

The USDT stablecoin issuer held over $5.4 billion in excess reserves as of 2023 year-end, according to its latest attestation.

The TON network has seen rapid growth recently helped by incentives for onboarding Telegram users.

Tether, the company behind USDT, the world's largest stablecoin by market cap, said it will defend itself from "shakedown" litigation brought by bankrupt crypto lender Celsius on Friday.

The circulating supply of the dollar-linked stablecoin on the two blockchains represents roughly 0.1% of the total USDT supply.

The tokenization platform is part of Tether's ambition to diversify its business from issuing the $126 billion USDT stablecoin.

Use of Tether has increased in Venezuela after the U.S. reimposed sanctions on oil exports.

Adecoagro is a founder and partial owner in an Argentina-based agricultural commodities tokenization platform Agrotoken.

The leading stablecoin issuer is comfortable holding its T-bills at a U.S. institution because it respects international sanctions, CEO Ardoino said in an interview.