USDT issuer Tether no longer holds commercial paper in its reserves
Join Our Telegram channel to stay up to date on breaking news coverage Tether Holdings Limited, the issuer of the USDT stablecoin, has reduced its exposure to commercial paper to zero. By doing this, the stablecoin issuer has solved one of its long-withstanding issues that have formed the basis of criticism on Tether’s quality of reserves. Tether reduces commercial paper holdings to zero While announcing the move on October 13, Tether also said it had replaced all its commercial paper holdings with US Treasury Bills. The company added that getting rid of commercial paper in its reserves demonstrated that it was committed to supporting its tokens using the most secure reserves available in the market. “Tether has eliminated over $30 billion dollars of commercial paper without any losses, proof of how Tether’s reserves are conservatively and professionally managed. Tether has also increased its direct exposure to US Treasuries by more than $10 billion in t...