USDT publisher Tether commemorates the tenth anniversary of its founding. In honor of the day, the company unveiled an upcoming documentary titled “Stability and Freedom in Chaos.” The film attempts to highlight the important role that USDT has played in the financial lives of people in all countries that are now experiencing economic crisis and hyperinflation. It describes real-life stories from users in different countries: Brazil, Argentina, Turkey, who use USDT in their daily transactions.
🎬Today USD₮ celebrates its 10th anniversary!
To celebrate this, we will soon launch our documentary ‘Stability and Freedom in Chaos’.
Dive into the journey of how $USDT has become a lifeline for millions of people, fighting inflation and encouraging financial freedom worldwide. 🌎🤝 pic.twitter.com/oviKmIgpgx— Tether (@Tether_to) October 6, 2024
A decade of influence
USDT has revolutionized the digital currency landscape since its inception on October 6, 2014. Brock Pierce, Reeve Collins and Craig Sellars initially introduced Realcoin; however, it immediately changed its name to Tether and became the leading stablecoin on a global scale.
Tether teases documentary commemorating USDT’s 10th anniversary
Tether, the publisher of the USDT stablecoin, has announced the upcoming release of a documentary titled “Stability and Freedom in Chaos” to celebrate USDT’s 10th anniversary, according to Crypto Briefing. This…
— Coinness Global (@CoinnessGL) October 6, 2024
Currently, the USDT is considered the third largest cryptocurrency, after Ethereum and Bitcoin, with a market capitalization of approximately $120 billion. Its main appeal is its potential for a dollar-pegged currency, which is supposed to function stably in those places where local currencies are constantly devaluing.
For example, according to one user, USDT comprises about 90% of daily transactions in Brazil. The documentary trailer features interviews with individuals discussing how they use USDT to manage their financial affairs in the face of rising inflation rates. The aim of the film is to demonstrate the broader implications of USDT for financial inclusion and empowerment, in addition to its practical applications.
Financial inclusion in high inflation economies
The documentary upheld USDT as a lifeline for people who continue to live in economically distressed regions. Countries like Argentina and Turkey, where inflation can really get out of hand, saw so many people using USDT to safeguard their money. Paolo Ardoino, CEO of Tether, made it clear that the organization has always tried to offer financial instruments to those shunned by conventional banking systems.
Today marks 10 years since that $USDT And @Tether_to ✨
Tether built its company on a simple mission: to bring financial inclusion to the billions of people, mainly living in developing countries, who cannot have a bank account (because they do not generate enough income… https://t.co/PdL6gGWDRv
— Paolo Ardoino 🤖🍐 (@paoloardoino) October 6, 2024
He noted that USDT is used by hundreds of millions of people around the world as a “digital dollar,” with tens of millions of new wallets being created on a quarterly basis.
Ardoino’s vision is unequivocal: Tether’s purpose is to empower communities and individuals ignored by traditional financial institutions. As he said, “Our primary goal has always been the last mile.”
A symbol of steadfastness
As Tether commemorates this achievement, it also considers its involvement in law enforcement initiatives to combat cryptocurrency-related criminal activity. Tether recently helped the U.S. Department of Justice seize more than $6 million tied to fraudulent ventures. The company is working with more than 180 enforcement agencies worldwide to freeze USDT, worth a total of more than $1.8 billion attributable to illegal activities.
Featured image of Protos, chart from TradingView