Tether’s chief technology officer said the USDT steblecoin issuer has climbed three spots higher in a ranking of the largest holders of U.S. Treasury bonds.
Paolo Ardoino said the company holds more than $72 billion worth of such securities. Tether came 22nd in terms of investment in U.S. debt instruments, ahead of even entire countries like the UAE, Mexico, Australia and Spain.
Since May, the company has grown its holdings of U.S. Treasuries by $19.5 billion, moving up three spots in the ranking of the largest investors in U.S. government debt.
Earlier, Tether, the issuer of the first steiblcoin by market capitalization USDT, published
data on the state of its reserves. So Tether has a liquidity reserve of over $3 billion, and the USDT stablecoin is 100% backed by the company’s own reserves.