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Tether says it has completely eliminated commercial paper from reserves

Skylar Shaw

Oct 14, 2022 17:05

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The biggest stablecoin in the world by market cap, Tether, claims to have totally removed commercial paper from its holdings and replaced it with U.S. Treasury bills.


The biggest stablecoin in the world by market cap, Tether, claims to have totally removed commercial paper from its holdings and replaced it with U.S. Treasury bills.


According to a blog post on the firm website, Tether erased $30 billion of commercial paper without suffering any damages.


Tether said in August that as of the end of June, its reserves were worth $66.4 billion, down from $82.4 billion at the end of March.


By the end of the year, Tether intends to provide monthly updates on the condition of its reserves.

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