Tether Freezes Over Half a Billion USDT Amid Ongoing Efforts

Tether (USDT) has frozen over $500 million of its stablecoin in just 30 days, according to data from BlockSec. This move comes as part of Tether's ongoing efforts to maintain the stability and integrity of its USDT token.

In a report, Tether revealed that it had made a profit of $1.5 billion in the second quarter of this year, despite facing a 50% decrease in excess reserves.

The company has also seen its gold reserves increase to over 146 tons, making it the largest holder of gold worldwide.