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

Tether aims to decrease commercial paper backing of USDT to zero

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.

06/15/2022

Less than a minute

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