Tether Reportedly Bought 8.9K Bitcoin for $380M, Remaining 11th-Largest BTC Holder

 The stablecoin issuer announced in May 2023 that it would start buying bitcoin in an effort to diversify the backing of its USDT stablecoin. The stablecoin issuer announced in May 2023 that it would start buying bitcoin in an effort to diversify the backing of its USDT stablecoin.