USDT: Will these activities affect sentiment negatively?

October 17, 2023

By Himalay Patel

Realistic or not, here’s TRX’s market cap in BTC’s terms

• A surge in potentially tainted USDT tokens due to illicit activities occurred over the last few years.

• Tron network’s sentiment and TRX’s price faced uncertainties as a result.

Tether [USDT], a dominant stablecoin in the cryptocurrency market, faced growing concerns due to illicit activities that have been funneled into its addresses. This influx of questionable activity may have repercussions for both USDT and the Tron [TRX] network.

Over the counter, under the table

Over the last 24 months, an alarming amount of TRC20 USDT has found its way into over-the-counter (OTC) addresses.  Many of these transactions were associated with various scams and illicit actions.

OTC trading serves as a crucial channel for cryptocurrency users to facilitate the exchange of their assets. Beyond traditional centralized platforms, compliant cryptocurrency service providers, and significant money laundering hubs, some crypto payment platforms also provide OTC trading services.

However, the degree of KYC implementation varies among these platforms. This results in varying levels of risk associated with their addresses.

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