Tether Condemns False Rumors About Its Commercial Paper Holdings - 0 views
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John Kiff on 15 Jun 22Tether pushed back on rumors that the commercial paper held as USDT stablecoin reserves is 85% comprised of paper backed by (mostly shaky) Chinese or Asian firms. As of the most recent attestation report commercial paper made up about 25% of USDT's backing, and Tether is gradually switching maturing paper into short-maturity U.S. Treasury securities. Also, Tether's Celsius position has been liquidated with no losses to Tether, and Tether has currently zero exposure to Celsius apart from a small investment made out of Tether equity in the company.