Tether’s capitalization reaches $15 billion, and police summons the head of the Bithumb exchange for questioning

Tether capitalization reaches $15 billion

USDT market cap has exceeded $15 billion. As of September 18, capitalization increased by another $200 million and reached $15.284 billion.

Over the past 20 days, the indicator has grown by 50%, and since the beginning of the year — by 3.7 times. Analysts attribute this to the rapid rise in popularity of the decentralized financial applications sector.

Tether developers have previously noted that many investors enter the crypto market precisely through USDT. For example, Asian traders most often buy bitcoin and altcoins using Tether tokens.

Most of the coins ($10 billion) are issued on the Ethereum blockchain, another $4 billion operates on the Tron network.

Police summoned the head of Bithumb for questioning

Seoul police have summoned Lee Jong Hoon, chairman of the South Korean exchange Bithumb, for questioning.

A fraud case is pending against him, local media reported. Lee Jong Hoon is accused of manipulating the presale of Bithumb BXA tokens, as a result of which investors lost about $25 million. On the second charge, he did not pay taxes on foreign real estate.

Bithumb’s offices were searched three times in September. During the latter, law enforcement officers seized shares in Bithumb Holdings owned by the company’s director Kim Ben-gen.

The bank plans to add new types of cards, improve the loyalty program, and add new functions for businesses and users.