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Cryptocurrency News

Tether says it holds zero Chinese commercial paper, denies 85% exposure

07/28/2022

Less than a minute

2022.07.28 12:13

Major stablecoin issuer Tether has reiterated that the company plans to completely rid itself of commercial paper backing for its U.S.-dollar stablecoin USDT.

In a blog post on Wednesday, Tether said it “holds no Chinese commercial paper as of today,” while its total commercial paper exposure has been cut to $3.7 billion from $30 billion one year ago.

Source

07/28/2022

Less than a minute