In the Crypto Assets market, the size and influence of Tether has sparked considerable discussion. This relatively small company controls astonishing assets. It is reported that Tether holds over $100 billion in US Treasury bonds, a figure that starkly contrasts with its company size.

This phenomenon has raised some doubts among investors. By increasing the issuance of USDT stablecoins, Tether can easily acquire users' cash assets. Subsequently, the company can use these funds to purchase U.S. Treasury bonds, thereby obtaining stable returns. This operational model has led some observers to associate it with the business tactic of "playing a shell game."

Investors who have been involved in the Crypto Assets market for a long time may find that many people only invest without withdrawing in this market. This phenomenon reflects, to some extent, the uniqueness and risks of the Crypto Assets market.

However, this situation has also sparked deep reflections on the flow of funds and value creation within the Crypto Assets ecosystem. Although Tether's operational model is fraught with controversy, it also highlights the complex relationship between the Crypto Assets market and the traditional financial system.

In this rapidly evolving field, investors need to remain vigilant, thoroughly understand the mechanisms of market operations, and weigh the potential risks and opportunities. At the same time, regulatory bodies also face the challenge of finding a balance between encouraging innovation and protecting investors' interests.

As the Crypto Assets market continues to evolve, the role and influence of companies like Tether may continue to spark discussions and debates. It is crucial for participants to maintain a clear mind and critical thinking in order to make informed decisions in this market filled with opportunities and risks.