Tether, the issuer of USDT, which has been the target of criticism recently, announced that it holds $72 billion in US treasury bonds.
Tether CTO Paolo Ardoino shared a post from the X (formerly Twitter) platform. Ardoino announced that USDT issuer Tether holds $72 billion in US treasury bonds. Additionally, Ardoino said that with this reserve in US treasury bills, Tether surpassed the United Arab Emirates, Mexico, Australia and Spain. Thus, Tether became the 22nd largest US bond investor.
Among the speculations: Tether and Circle
Tether and Circle, one of the world’s largest stablecoin issuers, have been subject to various speculations over the last year. In particular, Tether’s stablecoin USDT lost its dollar peg several times, making investors nervous. Circle’s USDC was at the top of its game due to its activities in the USA.
US regulators clamped down on USDT and USDC, the two major channels through which the dollar flows, and questioned the value of these stablecoins. Taking action, stablecoin issuers transferred the majority of their assets to US treasury bonds.
Sharing on X, Ardoino confirmed that Tether holds $72 billion in US treasury bonds.
While @Tether_to reached 72.5B exposure in US t-bills, being top 22 buyer globally, above United Arab Emirates, Mexico, Australia, Spain, …$USDt is the most used stablecoin in the world, with a huge focus on emerging markets. For many of these communities USDt is a lifeline… https://t.co/7hC12Nhzdq
— Paolo Ardoino 🤖🍐 (@paoloardoino) September 5, 2023
Tether CTO stated that USDT will continue to be the world’s fastest growing and most actively used stablecoin. Referring to inflation, Ardoino stated that USDT is a lifesaver.
Apart from Tether, Circle also has significant investments in US treasury bonds. Circle owns $8.38 billion in U.S. Treasury securities.
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