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As of July 1 this year, Tether Holdings said its commercial paper exposure was approximately $3.5 billion, and it expressed its plans to cut this to 0 before year-end.
A New York judge has reportedly removed Roche Freedman from a class action lawsuit against stablecoin issuer Tether and crypto exchange Bitfinex. The post Law firm Roche Freedman removed from suit against Tether and Bitfinex: Bloomberg appeared first on The Block.
Stablecoin issuer Tether has eliminated commercial papers from its USDT reserve, according to its latest reserve update. The post Tether reduces commercial paper reserves for USDT to zero appeared first on CryptoSlate.
The world's largest stablecoin, Tether, completed a significant milestone today, announcing that it had slashed its commercial paper holdings to zero. According to a blog post, the commercial paper holdings have been replaced by U.S. Treasury bills.
Law firm Roche Freedman was removed even after its controversial founder Kyle Roche filed to withdraw from the case.
Catch up on the latest crypto market news at The Currency Analytics. Tether is doing their best to keep the stable coin stable.
Tether has fully replaced its commercial paper holdings with U.S. Treasury bills.
Tether has cut down all commercial paper exposure from its reserves. The firm said the move is part of its ongoing efforts to increase transparency.
The stablecoin issuer Tether (USDT) has made good on its word to cut its exposure to riskier assets like commercial paper. The post Tether Cuts Out Commercial Paper Holdings To Foster Trust appeared first on BeInCrypto.
On October 13, 2022, Tether Holdings Limited announced that the stablecoin issuer has reduced the company's commercial paper holdings down to zero.
Faced with criticism over the quality of its reserves, stablecoin issuer Tether announced Thursday that it was slashing commercial paper, or unsecured promissory notes, from its reserves. It also increased its direct exposure to U.S. Treasuries by more than $10 billion in the last quarter.
USDT's throne has been challenged over the years by USDC. Eight years after Tether issued its first USDT token, the company can claim to have seen it all from regulators' censures to reaching supply highs.
The company says that stablecoins have been vital in the innovation and construction processes of decentralized financial systems.
Tether has announced that USDT is no longer backed by commercial paper. The firm has increased it's exposure to U.S Treasury Bills.
Tether, the world's largest stablecoin, has slashed back its commercial paper holdings to zero, replacing them with U.S. Treasury bills instead, according to a blog post.
Having battled rumors before, the stablecoin hopes to remove all doubt.
The leading stablecoin issuer has long drawn criticism over the security of its reserves.
Tether has made good on its good promise to get rid of commercial paper by the end of the year
The USDT issuer has faced criticisms for its exposure to commercial paper and, specifically, its alleged holdings of Chinese commercial paper.
Stablecoin issuer Tether has said for months it planned to improve the quality of its reserves. The post Tether to replace commercial paper with U.S. Treasuries reserves appeared first on The Block.
Tether, 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.
The company has been gradually replacing its commercial paper holdings with U.S. Treasury bills.
Eight years after Tether issued its first USDT token on Oct. 6, 2014, the company could claim to have seen it all: allegations of price manipulation, regulatory legal fights and repeated FUD (fear, uncertainty and doubt) attacks. The post Tether USDT Turns 8 – a History of FUD, Regulation and Growth appeared first on BeInCrypto.
Stablecoins play a key role in the decentralized finance and broader cryptocurrency ecosystem, without a doubt. But the rivalry between USDT and USDC seems to have taken a different route.
