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Cryptocurrency News

Tether aims to decrease commercial paper backing of USDT to zero

06/15/2022

Less than a minute

2022.06.15 17:26

The major stablecoin company Tether is looking to eventually get rid of commercial paper backing for its United States dollar-based stablecoin Tether (USDT).

Tether issued an official statement on Wednesday to deny reports alleging that Tether’s commercial paper portfolio is 85% backed by Chinese or Asian commercial papers and is being traded at a 30% discount.

Source

06/15/2022

Less than a minute