Bithope Foundation Original Research

Original Research

Deep-dive, source-checked research on the companies and ecosystems shaping crypto, written by Bithope Foundation founder Vladislav Dramaliev. Newest first.

Tether ecosystem research cover: two overlapping network graphs

July 2026

Tether Built a Conglomerate. Most People Are Still Calling It a Stablecoin.

A full map of the Tether ecosystem: the reserves and the transparency question, the five pillars, the wider USDT economy of chains and apps Tether doesn't own, the biggest opportunities ahead of it, and why the classic Tether FUD no longer survives the numbers.

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