Tether Launches USAT, Despite 100% Reserve Claims on USDT, Accelerates Gold Purchases - BFM Times

If USAT is launched to comply with the GENIUS Act, nearly every other stablecoin issuer should have launched a new token. However, other stablecoins like USDC, RLUSD, FDUSD, PYUSD, and even the Trump-backed USD1 have not launched any new token.

If USAT is launched to provide credible reserves reporting, doesn’t it raise serious questions about the quality of reserves with the USDT?

The latter has already been in the middle of serious doubts. Critics of USDT claim that it has opaque reserves and that its audits are conducted infrequently by a lesser-known auditing firm.