Tether reduces commercial paper exposure to below $50M, Treasury bills rise to 58.1% of reserve
Insider Information on Tether’s Reserves Reveals As of Sept. 30, Shadlecoin Issuer Increased U.S. Treasury Securities to 58.1% of Reserves and Reduced Commercial Paper Exposure to Less Than $50 Million Did.
According to the last formula report On June 30, approximately 43.5% of Tether’s assets (approximately $28.8 billion) were held in U.S. Treasury securities, while less than 25% (approximately $8.4 billion) represented exposure to commercial paper. rice field.
The stablecoin issuer had promised to reduce its commercial paper holdings to zero and increase its reserve assets in U.S. Treasury securities.
A recent portfolio update shared by Tether CTO Paolo Aldoino suggests that the stablecoin issuer is keeping its promises.
#tether Portfolio update. As of September 30, 2022, Tether holds approximately 58.1% of its assets in US t-bill. Up from 43.5% on 30 June 2022.
CP exposure is currently < 50M.@Tether_to— Paolo Ardoino 🕳🥊 (@paoloardoino) October 3, 2022
Fact checking against regular users of Tether transparency page Current US Treasury bill holdings are 54.57%, while exposure to commercial paper is approximately 16%.
according to Aldonia, It usually takes about 45 days for a formal report to be reflected. However, the audit team is working to shorten the timeline.
CryptoSlate has reached out to Tether to confirm an update will be available in their next quarterly report. A Tether spokesperson said:
“Notable portfolio updates include a reduction in commercial paper, which now accounts for less than $50 million in reserves and holds 58.1% of assets in U.S. Treasury bills.”
Tether added that it is moving from commercial paper to Treasury bills because it needs a more conservative portfolio to remain the largest stablecoin by trading volume.
