Cryptocurrencies
Tether Cuts Commercial Paper, Boosts Treasuries Behind USDT
- Stablecoin issuer said it continues to reduce commercial paper
- Holdings breakdown is from before latest market turmoil
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Tether, the operator of the world’s most used cryptocurrency, said it had reduced the amount of commercial paper in the reserve backing its $74 billion stablecoin, revealing information about its holdings while dollar-pegged assets face tougher scrutiny from regulators.
Tether Holdings Ltd. had assets totaling at least $82.4 billion as of March 31, along with $82.2 billion in liabilities relating to the digital tokens it issues, according to an assurance from Cayman Islands-based MHA Cayman.