Tether’s $200 billion mystery: The crypto giant that revealed a new financial powerIn the fast-moving world of cryptocurrency, few companies have grown as rapidly-or as quietly-as Tether. Yet despite its enormous financial influence and estimated valuation of around $200 billion, Tether remains one of the least transparent companies of its size. Several members of Congress have sought additional information regarding the company’s ownership structure, financial relationships, and business dealings. Investors, regulators, and policymakers often have limited access to information regarding ownership, governance, financial performance, or risk exposure. As cryptocurrency continues moving into mainstream finance, pressure is likely to increase for companies like Tether to provide greater disclosure.