UThomas Daniels
I-Tether, umkhuphi wesona sikhululo sehlabathi se-USDT, uye wawachitha amarhe ajikeleze ukuthengiswa kweBitcoin, ephinda isicwangciso sakhe sexesha elide sokwenza inzuzo kwakhona kwiBitcoin, igolide kunye nomhlaba.
I-Bitcoin Holdings I-Intact Ngaphandle Kokucingelwa kweMarike
IGosa eliLawulayo eliyiNtloko uPaolo Ardoino waqinisekisa ukuba uTether "akazange athengise nayiphi na i-Bitcoin," ephendula uqikelelo lwakutsha nje olubangelwa kukutolikwa gwenxa kwedatha ye-Q1 kunye ne-Q2 2025 yobungqina benkampani. Idatha, ehlaziywe yi-BDO eqinile yophicotho-zincwadi, ibonakala ibonisa ukuncitshiswa kwe-Bitcoin holds-ukusuka kwi-92,650 BTC kwikota yokuqala ukuya kwi-83,274 BTC okwesibini. Oku kukhokelele abanye abahlalutyi beemarike ukuba bacebise ukuba iTether iqalisile ukulahla oovimba bayo beBitcoin.
Nangona kunjalo, iingcali zoshishino zawakhaba ngokukhawuleza la mabango. USamson Mow, i-CEO ye-Jan3, yacacisa ukuba ukuhla okuphawulweyo kwakusisiphumo sokudluliselwa kweqhinga-i-19,800 BTC yabelwa kwakhona kwiqonga lezemali le-Bitcoin eyaziwa ngokuba yi-Twenty One Capital (XXI). Ukutshintshwa kubandakanya i-14,000 BTC ngoJuni kunye nenye i-5,800 BTC ngoJulayi. Ngokutsho kweMow, xa oku kudluliselwa kubalwa, i-Tether's net holders yayiza kunyuka ngokwenene nge-4,624 BTC xa kuthelekiswa nokuphela kwe-Q1.
U-Ardoino uxhase le ngcaciso, eqaphela ukuba ukuhamba kwe-asethi akufani nokuchithwa. Ugxininise ukuzinikela okuthe gqolo kwefemu kutyalo-mali kwii-asethi ezikhuselekileyo, ngakumbi kwinto ayichaze njengemo yemali yehlabathi ewohlokayo.
Ukwandiswa kokuboniswa kweGolide kunye noMhlaba
Ukongeza koovimba bayo abakhulu beBitcoin, iTether ilwandise kakhulu utyalo-mali lwayo kwigolide. Inkampani ngoku iphethe malunga ne-8.7 yeebhiliyoni zeedola kwi-bullion ebonakalayo, egcinwe kwiivaults ezikhuselekileyo eZurich. Le golide ayisetyenziswanga kuphela ukuguqula oovimba kodwa ikwajongwa njengothango lobuchule ngokuchasene nokungazinzi kwemali ye-fiat.
I-Tether iye yazinzisa ngakumbi ukuvezwa kwayo kwicandelo legolide ngokwenza utyalo-mali ubuncinci i-205 yezigidi zeerandi kwi-Elemental Altus, inkampani yobukhosi begolide edityaniswa ne-EMX. Umkhuphi we-stablecoin uxelwe kwiingxoxo kunye namaziko amaninzi kuwo wonke ukuthengiswa kwegolide, kubandakanywa nemigodi, ukucocwa, kunye namaqela orhwebo, njengenxalenye yesicwangciso esibanzi sokwakha isiseko sogcino oluzinzileyo kunye nokumelana nokunyuka kwamaxabiso.
Ngokutsho kwe-Ardoino, igolide isebenza njengeqabane lendalo kwi-Bitcoin, kunye neempahla zombini ezenza intsika ephindwe kabini kwiqhinga le-Tether's diversification. Uchaze imodeli yolwabiwo lwe-asethi yefemu njengenyathelo lokuqala lokugcina ixabiso phakathi kokunyuka kokungaqiniseki kwezopolitiko kunye nezezimali.
Kuvela iQhinga eliBanzi leZiko
Izenzo zeTether ziphawula ukuguquka okuhlukileyo kwisicwangciso solawulo lovimba sabakhuphi be-stablecoin. Kunokuba ibambe kuphela imali elinganayo kunye netyala likarhulumente lexeshana elifutshane, inkampani ilungelelanisa oovimba bayo nexesha elide, ii-asethi ezigcina ixabiso. Utyalo-mali lwayo kumhlaba nakwizinto zorhwebo lwalatha ekutshintsheni ekudityanisweni kwee-asethi zehlabathi lokwenene, ekusenokwenzeka ukuba kujoliswe ekwandiseni ukuthembana phakathi kwamahlakani neziko nabalawuli.
Ukususela ekuqaleni kukaSeptemba 2025, iTether ibamba ngaphezulu kwe-100,521 BTC, exabisa malunga ne-11.17 yeebhiliyoni zeedola. Lo vimba mkhulu ugxininisa ukuzithemba okuqhubekayo kwefemu kwiBitcoin njengendawo yokugcina ixabiso.
Iimpembelelo zeMarike
Unxibelelwano olusebenzayo lweTether kunye nobhengezo oluneenkcukacha lusebenza ekomelezeni ukuzithemba kwemarike ngexesha lokuphononongwa okuphezulu. Ngokucacisa indawo yayo kunye nokuveza iingcamango eziphosakeleyo emva kwamahemuhemu athengiswayo, inkampani iye yazibeka njengomdlali ocacileyo kunye noqeqesho olucwangcisiweyo kwindawo ye-asethi yedijithali.
Ukuhlangana kweBitcoin, igolide, kunye nomhlaba kwipotfoliyo yogcino lukaTether kubonakalisa intshukumo yangabom ukuya kwii-asethi ezininzi, iqhinga lokuchasana nokunyuka kwamaxabiso. Njengoko inkqubo yezemali yehlabathi ijongene nokunyuka kweentloko, iTether ibonakala ilungelelanisa kungekuphela nje ngekamva ledijithali kodwa kunye neevenkile ezingapheliyo, eziphathekayo zexabiso.
