After Binance's Declaration of '10 Billion USD Bitcoin Purchase,' Community Shifts Focus to Call on Industry Leading with Tether Support

BlockBeats News, January 30th, Today, Binance announced that it will gradually convert its original $10 billion stablecoin reserve into Bitcoin, with the plan to complete it within 30 days. This move is seen as an attempt to ease recent criticism and controversies from the crypto community regarding the Binance platform.

Following the official announcement, the crypto community has called on industry-leading entities, with Tether as a representative, to support the industry. Yishi, the founder of OneKey, stated, "All major cryptocurrency tech companies need to take action. If Bitcoin dies, it is something that no one can afford. Binance took the lead, and now it's Tether's turn." Crypto KOL and former FTX community partner Benson Sun also expressed similar views.

"BTC OG Whale Insider" agent Garrett Jin also promptly called for more key crypto industry companies to step forward and support industry development with real funds.

Public information shows that Tether has become the largest gold reserve holder outside of sovereign nations and banks, with over 140 tons of gold stored in the vault. Tether's CEO, Paolo Ardoino, stated in an interview with Bloomberg that Tether intends to continue reinvesting its significant profits in gold. He mentioned that the company is currently buying 1 to 2 tons of gold per week and will maintain this pace in the "coming months."