Cryptocurrencies
Tether's Usage Rise in Time Zones That Include Sanctioned Nations
- Some data signal USDT activity moved toward EMEA time zones
- US officials are reportedly stepping up probes into the token
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The $120 billion cryptocurrency Tether has gained traction in European, Middle Eastern and African time zones, a study suggests, as the purported dollar surrogate reportedly comes under greater US scrutiny.
The trend emerges in data on first-time use of digital wallets containing the stablecoin — also known as USDT — from consultancy Chainalysis Inc. Activations crest from 9 a.m. to 2 p.m. Coordinated Universal Time, or UTC, equivalent to late morning or afternoon in the likes of Moscow, Tehran, Kigali and Istanbul.