Despite Crypto Ban: China Still Dominates Global Tether Trade Volumes

Chinese cryptocurrency exchanges account for 60% of all stablecoin tether (USDT) trading globally, according to a report released by crypto research firm Diar.

The report revealed that Chinese crypto exchanges have raked in over $10 billion in USDT trading, a whopping sum in contrast to the United States’ $450 million facilitation in 2019. At the other end of the spectrum, Diar lists crypto giants, Binance and Bitfinex, who are reportedly responsible for the remaining amount of Tether traded, about 31%.

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