Tether says it has completely eliminated commercial paper from reserves

johnarb

johnarb

Prolly nothing...


https://www.reuters.com/technology/...minated-commercial-paper-reserves-2022-10-13/


Tether says it has completely eliminated commercial paper from reserves
Reuters

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Smartphone with Tether logo is placed on displayed U.S. dollars in this illustration taken, May 12, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Oct 13 (Reuters) - Tether, the world's largest stablecoin by market value, says it has has completely eliminated commercial paper from its reserves and has replaced those investments with U.S. Treasury bills.

Tether eliminated $30 billion of commercial paper without any losses, according to a company blog post.

In August, Tether reported that it had reserves worth $66.4 billion as of the end of June, down from $82.4 billion at the end of March.

Tether has said that it would aim to release monthly reports on the status of its reserves by the end of the year
 
Funniest post of the day:D They never had any so the fact that they have non now is actually first true statement that came from them.

Just a reminder about Bloomberg calling every CP trading desk in all major banks, and no one ever saw them trading it even once, and at 60 billion Tether would be top 10.
 
RedDuke said:
Funniest post of the day:D They never had any so the fact that they have non now is actually first true statement that came from them.

Just a reminder about Bloomberg calling every CP trading desk in all major banks, and no one ever saw them trading it even once, and at 60 billion Tether would be top 10.
More...

Everything all good now with Tether. They have switched to 100% US Treasury bills on their reserve

Tether is the best stablecoin now. USDC also planning to do the same

No more stablecoin fud
 
johnarb said:
Everything all good now with Tether. They have switched to 100% US Treasury bills on their reserve

Tether is the best stablecoin now. USDC also planning to do the same

No more stablecoin fud
More...

lol. Sure, let’s see that audit first. I am surprised that someone who is so intelligent as you, just believe what proved liars say.
 
RedDuke said:
lol. Sure, let’s see that audit first. I am surprised that someone who is so intelligent as you, just believe what proved liars say.
More...

I don't know anything about buying US Treasury Bills but I was under the impression it's very to prove ownership

Like if Tether bought $25B worth of UST at Robinhood and another $25B worth at IB, then they just say that and Robinhood and IB would say, yea, here's the statement, they own $50B worht total, lol

It's not like US Treasury bills are available on underground unregistered dealers in the jungles of Nicaragua, or are they??
 
johnarb said:
I don't know anything about buying US Treasury Bills but I was under the impression it's very to prove ownership

Like if Tether bought $25B worth of UST at Robinhood and another $25B worth at IB, then they just say that and Robinhood and IB would say, yea, here's the statement, they own $50B worht total, lol

It's not like US Treasury bills are available on underground unregistered dealers in the jungles of Nicaragua, or are they??
More...

If BDO comes out and says that Tether indeed holds 60 billion UST, no further questions are needed. But we all know it will never happen. And yes, UST is same as cash of course.
 
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