Tether 在短短五天内就发行了 50 亿美元，震撼市场

在政治纠葛、不透明指控和持续调查的背景下，稳定币对加密生态系统的影响力持续增长。

Stablecoin issuer Tether has minted over $5 billion in just five days.

稳定币发行商 Tether 在短短五天内就铸造了超过 50 亿美元。

This development, which occurred between November 6 and 10, saw a massive injection of liquidity into the cryptocurrency market, sparking questions about reserves, transparency, and political implications.

这一事态发生在 11 月 6 日至 10 日之间，向加密货币市场注入了大量流动性，引发了有关储备、透明度和政治影响的质疑。

The issuance was accompanied by a rapid increase in the value of Bitcoin, which reached new all-time highs, pushing the crypto ecosystem to record levels.

此次发行伴随着比特币价值的快速上涨，达到历史新高，将加密生态系统推向历史新高。

However, the impact of this huge mint extends beyond the market movements, highlighting deeper issues related to the governance of Tether and its growing geopolitical influence.

然而，这个巨大铸币厂的影响超出了市场走势，凸显了与 Tether 治理及其日益增长的地缘政治影响力相关的更深层次问题。

One of the most controversial aspects of Tether’s activity is its connection to Howard Lutnick, the CEO of Cantor Fitzgerald, which holds a 5% stake in the stablecoin.

Tether 活动最具争议性的方面之一是其与 Cantor Fitzgerald 首席执行官霍华德·卢特尼克 (Howard Lutnick) 的联系，后者持有该稳定币 5% 的股份。

Lutnick, who was a prominent figure in Donald Trump‘s political transition team, has publicly defended Tether, but without providing any concrete evidence on the solidity of its reserves.

卢特尼克是唐纳德·特朗普政治过渡团队的重要人物，他公开为 Tether 辩护，但没有提供任何具体证据证明其储备的稳固性。

This connection has attracted the attention not only of cryptocurrency enthusiasts but also of regulators and political observers.

这种联系不仅引起了加密货币爱好者的关注，也引起了监管机构和政治观察家的关注。

The appointment of Lutnick as a potential Secretary of Commerce in the Trump administration raises further questions about possible conflicts of interest and the potential political influence on Tether’s operations.

任命 Lutnick 为特朗普政府潜在的商务部长引发了有关可能存在的利益冲突以及对 Tether 运营的潜在政治影响的进一步问题。

Despite the criticism, Cantor Fitzgerald has become a strategic banking partner for Tether at a time when many global banks have distanced themselves from the stablecoin.

尽管受到批评，坎托·菲茨杰拉德 (Cantor Fitzgerald) 已成为 Tether 的战略银行合作伙伴，而此时许多全球银行已与稳定币保持距离。

This role strengthens Lutnick’s position as a central figure in the management of reserves and in the financial stability of Tether.

这一角色加强了 Lutnick 作为 Tether 储备管理和金融稳定核心人物的地位。

Impact on the market and transparency under accusation

受到指控对市场的影响和透明度

The minting of $5 billion has brought Tether’s market capitalization to over $132 billion, cementing its position as the dominant stablecoin.

50 亿美元的铸造使得 Tether 的市值超过 1320 亿美元，巩固了其作为稳定币的主导地位。

This increase coincided with a rally of the main cryptocurrencies, including Bitcoin, which surpassed the $80,000 threshold and is now approaching the historic milestone of $100,000.

这一增长恰逢包括比特币在内的主要加密货币的上涨，比特币突破了 80,000 美元的门槛，目前正在接近 100,000 美元的历史里程碑。

However, the lack of transparency of Tether continues to raise concerns.

然而，Tether 缺乏透明度继续引发担忧。

Despite the attestation reports released by BDO Italia, many industry experts, such as Justin Bons of Cyber Capital, have questioned the credibility of Tether’s reserves, describing it as potentially more risky compared to other institutions that have already collapsed in the past.

尽管 BDO Italia 发布了鉴证报告，但 Cyber​​ Capital 的 Justin Bons 等许多行业专家仍对 Tether 储备的可信度提出质疑，称其与过去已经倒闭的其他机构相比，潜在风险更大。

The Commodity Futures Trading Commission (CFTC) and the New York Attorney General’s office have already fined Tether in the past for false statements about reserves and suspicious financial operations.

商品期货交易委员会 (CFTC) 和纽约总检察长办公室过去曾因 Tether 就储备金和可疑金融业务做出虚假陈述而对其处以罚款。

Despite these sanctions, the stablecoin has continued to dominate the market, with a share exceeding 75% of the stablecoin sector.

尽管有这些制裁，稳定币仍继续主导市场，在稳定币领域的份额超过 75%。

Moreover, Tether recently announced a strategic investment of $100 million in the South American agricultural company Adecoagro, acquiring a 9.8% stake.

此外，Tether 近期还宣布对南美农业公司 Adecoagro 进行 1 亿美元战略投资，收购其 9.8% 的股权。

This step has raised further questions about the governance of Tether and the opacity of its investment strategies. Sean Lee, co-founder of IDA Finance, emphasized how the absence of detailed transparency threatens the trust of the ecosystem.

这一举措引发了人们对 Tether 治理及其投资策略不透明性的进一步质疑。 IDA Finance 联合创始人 Sean Lee 强调，缺乏详细的透明度会如何威胁到生态系统的信任。

To these criticisms are added the statements of many observers who demand greater guarantees on Tether’s financial operations, considering them fundamental for compliance with regulations and for market stability.

除了这些批评之外，还有许多观察家的声明，他们要求对 Tether 的财务运营提供更大的保证，认为这对于遵守法规和市场稳定至关重要。