Tether says it has completely eliminated commercial paper from reserves
2022.10.13 13:36
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© Reuters. FILE PHOTO: Smartphone with Tether logo is placed on displayed U.S. dollars in this illustration taken, May 12, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) – , 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.
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