{"id":47633,"date":"2021-08-13T12:21:07","date_gmt":"2021-08-13T09:21:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47633"},"modified":"2025-09-01T22:21:15","modified_gmt":"2025-09-01T19:21:15","slug":"media-alameda-research-and-cumberland-take-the-lions-share-of-usdt-issuance","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-alameda-research-and-cumberland-take-the-lions-share-of-usdt-issuance\/","title":{"rendered":"Media: Alameda Research and Cumberland Take the Lion\u2019s Share of USDT Issuance"},"content":{"rendered":"<p>More than two-thirds of the total USDT stablecoin issued by Tether was purchased by two cryptocurrency firms \u2014 Alameda Research and Cumberland Global. According to the <a href=\"https:\/\/protos.com\/tether-minted-usdt-stablecoin-crypto-two-alameda-cumberland\/\">Protos <\/a>portal, citing its own sources.<\/p>\n<p>Alameda Research, Sam Bankman-Fried&#8217;s firm, acquired almost a third of all USDT. An even larger volume of the token was issued for the liquidity provider Cumberland Global. The firm belongs to the trading company DRW.<\/p>\n<p>According to the <a href=\"https:\/\/wallet.tether.to\/transparency?__cf_chl_jschl_tk__=pmd_1e4dcec379ae9f09e27cde9fa687a88cdcfc4237-1628843225-0-gqNtZGzNAeKjcnBszQdi\">issuer&#8217;s site<\/a>, as of writing, 63.3 billion USDT are in circulation.<\/p>\n<p>DRW is considered a major market participant. The Financial Times described the firm as \u201can important source of liquidity for the world&#8217;s leading futures exchanges.\u201d<\/p>\n<p>Cumberland was created by DRW in 2014 and, according to Protos, is the largest liquidity provider in the crypto industry thanks to Tether.<\/p>\n<p>Alameda Research positions itself as a \u201cmulti-stage investment company in the field of cryptocurrency and financial technologies.\u201d The firm is affiliated with Sam Bankman-Fried\u2019s other venture\u2014the Bitcoin exchange FTX.<\/p>\n<p>Since its launch in 2018, Alameda Research sharply increased its USDT purchases, and the stablecoin supply grew exponentially, Protos notes.<\/p>\n<p>Presumably, the company uses the majority of its USDT to provide liquidity to the markets in which it operates, including FTX.<\/p>\n<p>Additionally, Alameda Research <a href=\"https:\/\/forklog.com\/en\/news\/alameda-research-backs-defi-project-on-binance-smart-chain-in-7-million-seed-round\">acts <\/a> as a venture capitalist in the crypto industry, where funding projects in USDT is relatively easier than in fiat, according to Protos.<\/p>\n<p>According to an audit report, as of July 30, 2021 the stablecoin was <a href=\"https:\/\/forklog.com\/en\/news\/report-nearly-50-of-usdt-backing-by-tether-consists-of-commercial-paper\">fully backed by the issuer&#8217;s reserves<\/a>, but only 10% of those reserves consisted of cash and bank deposits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>More than two-thirds of the total USDT supply issued by Tether was purchased by two cryptocurrency firms \u2014 Alameda Research and Cumberland Global. According to the Protos portal, citing its own sources.<\/p>\n","protected":false},"author":1,"featured_media":47634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1435,1786,807,1245],"class_list":["post-47633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alameda-research","tag-cumberland","tag-stablecoins","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=47633"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47633\/revisions"}],"predecessor-version":[{"id":47635,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47633\/revisions\/47635"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/47634"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=47633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=47633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=47633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}