I just noticed that Tether's USDT reserves have reached over $23 billion according to the latest reports from Jefferies. This backing is growing because the demand for stablecoins continues to increase across different countries and markets. It's interesting to see how the physical asset base behind these digital currencies is expanding. CoinDesk reported on this with their usual rigorous journalism standards. It seems that institutional adoption of crypto is really accelerating based on these numbers. Worth monitoring where these reserves will go in the coming quarters.