Tether Holds $72.5 Billion In US Treaury Bills, A Smart Investement?
Tether, the company behind the prominent stablecoin USDT, holds $72.5 billion worth of US Treasury bills (T-bill). This development was revealed initially in the company’s assurance report for Q2 2023. However, Tether’s Chief Technology Officer, Paolo Ardoino, on September 5, emphasized this fact on social media platform X. Related Reading: Tether Teams Up With Private […]
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Stablecoin issuers Tether, Circle and others hold more short-term U.S. Treasury Bills than Berkshire Hathaway. Warren Buffett raised eyebrows this week when his firm, Berkshire Hathaway, upped its exposure to United States Treasury bills. If you’re one of the few remaining bulls out there, Buffett’s flight to safety is concerning because it signals that the Oracle of Omaha would rather get a 3% yield instead of playing the stock market. If equities go belly-up in the fall, as I’ve been predicting for months, expect Bitcoin (BTC) to follow. Looking at the numbers, Berkshire’s T-bill....
“This latest attestation further highlights that Tether is fully backed and that the composition of its reserves is strong, conservative and liquid," said Paolo Ardoino. USDT Stablecoin issuer Tether has reported it cut its reserves allocation to commercial paper investments and increased that of United States Treasury bills over the first quarter of 2022.In a Thursday blog post, Tether reported its reserves were “fully backed,” seemingly in an effort to assuage many users’ fears around USDT briefly depegging from the dollar on May 12. According to the stablecoin issuer, its commercial....
Tether is also looking to become more transparent, having hired a new accounting firm to conduct regular audit and attestation reports to ensure its stablecoin is properly backed by the USD. Stablecoin issuer Tether (USDT) has nearly completely slashed its commercial paper holdings, with less than $50 million worth of commercial paper units as of Sept. 30, 2022.Tether CTO Paolo Ardoino made the announcement in an Oct. 3 tweet, adding also that Tether’s United States Treasury bills increased to 58.1% of its total portfolio, up 25.1% from its Jun. 30 figure of 43.5%.#tether portfolio update.....
As per the official report published on May 18, Tether, the issuer of the world’s most used stablecoin, USDT, has cut 17% of its commercial paper holdings and increased United States Treasury bills with this reserve amount to back its stablecoin, USDT. Tether made the reduction over Q1 2022 and continues for a further 20% decline since April 1. The firm will highlight this 20% reduction in the Q2 report. The crypto project took these steps following the USDT stablecoin losing its dollar peg. The stablecoin dropped to 95 cents on May 12. In addition, to assuage users’ fears over....
Tether, Circle and other stablecoin firms held $80 billion worth of short-term U.S. government debt as of May 2022, more than owned by Warren Buffett’s Berkshire Hathaway. Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players.Various stablecoin providers collectively held $80 billion worth of short-term U.S. government debt as of May 2022, according to a study by the investment bank JPMorgan released on Aug. 16.Tether, Circle and other stablecoin firms accounted for 2% of....