USDT stablecoin issuer Tether has now revealed a reduction in commercial paper holdings in its latest attestation report released on February 21. Audit company MHA Cayman, which prepared the Consolidated Reserves Report, explained that Tether’s total assets exceed the amount required to reclaim the digital tokens issued by the company. The report further shows that Tether has reduced its dependence on commercial paper and cash holdings by strengthening its money market funds and treasury bills reserves.
Strictly speaking, the stablecoin issuer has reduced its commercial paper holdings by 21%, from $30.5 billion in the period ending in September to $24.2 billion in December. Furthermore, it has also contracted its cash assets from $7.2 billion to $4.2 billion.
“The latest report also shows an increase in the group’s investments in money market funds and treasury bills as well as A-1+ commercial paper holdings over the previous quarter, which further fortifies the resilience of Tether’s stablecoins,” the company said in its blog post.
Tether CTO, Paolo Ardoino commented: “The utility of Tether has grown beyond being just a tool for quickly moving in and out of trading positions, and so, it is mission critical for us to scale alongside the peer-to-peer and payments markets. To serve these new retail and institutional customers, Tether will continue to be the leader amongst its peers when it comes to transparency and reliability.”
In February 2021, Tether and its affiliated cryptocurrency exchange Bifinex settled a lawsuit with the New York Justice Authority (NYAG) over allegations of fraudulent loans worth $ 850 million. Thereafter, as part of its efforts to increase transparency, Tether agreed to publish a quarterly breakdown of its reserves.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | ![]() |
Bitcoin predictions | 93.6% | 7 | $37 887.42 | 2.19% | 4.10% | $740 914 703 934 | ||
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2 | ![]() |
Ethereum predictions | 75.2% | 40 | $2 050.06 | 1.43% | 5.57% | $246 506 860 729 | ||
3 | ![]() |
Tether predictions | 93.2% | 1 | $1.000301 | 0.03% | 0% | $88 925 672 826 | ||
4 | ![]() |
Binance Coin predictions | 83.2% | 27 | $229.58 | 1.34% | 0.61% | $34 826 645 047 | ||
5 | ![]() |
XRP predictions | 77.6% | 39 | $0.611178 | 1.60% | 5.44% | $32 891 765 662 | ||
6 | ![]() |
USD Coin predictions | 92% | 1 | $0.999723 | -0.03% | -0.01% | $24 527 694 579 | ||
7 | ![]() |
Solana predictions | 63.2% | 84 | $57.87 | 5.81% | 12.26% | $24 503 935 560 | ||
8 | ![]() |
Cardano predictions | 70.4% | 57 | $0.384113 | 2.50% | 6.35% | $13 558 501 012 | ||
9 | ![]() |
Dogecoin predictions | 76.8% | 44 | $0.080192 | 2.84% | 12.17% | $11 388 879 677 | ||
10 | ![]() |
Lido stETH predictions | 93.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
11 | ![]() |
TRON predictions | 86.4% | 26 | $0.103213 | 1.12% | 7.03% | $9 139 931 162 | ||
12 | ![]() |
Wrapped TRON predictions | 83.6% | 27 | $0.102906 | 0.58% | 6.65% | $9 112 741 438 | ||
13 | ![]() |
Toncoin predictions | 84% | 29 | $2.45 | 0.16% | 5.46% | $8 405 695 668 | ||
14 | ![]() |
Chainlink predictions | 68% | 66 | $14.48 | 2.92% | 6.94% | $8 065 328 705 | ||
15 | ![]() |
Avalanche predictions | 59.6% | 84 | $20.54 | 1.70% | 7.11% | $7 497 665 518 |
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