The popular stablecoin, the USDT is between the fastest-growing projects, it shows fourfold amount since the beginning of the year. In September, they minted 1 billion in an eight-day period, and now, they did the same amount, in nine days. USDT had the third spot in the market cap list for a while, but the recent XRP-rally dethroned it.
USDT is the biggest stablecoin project in the crypto industry, despite the fact, they do not have 100% reserve, only around 75%, and part of it is not cash, but short-term securities. Tether, as a company, never did a full-audit on their accounts and books. And it seems, in the crypto industry, you can operate without these things.