Part 4/16:
Why is Tether's rise significant? Livingston emphasizes its potential to redefine the very unit of account in global transactions. If digital commerce transactions predominantly settle in USDT, then Tether effectively becomes the global de facto central bank. Its reserve composition, initially anchored in short-term US Treasuries, signals a direction toward backing its assets with Bitcoin—a move that enhances its collateral strength and strategic autonomy.