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Stablecoin issuer Tether Holdings Limited has unwound its exposure to commercial paper, addressing a long-standing item of contention among detractors who’ve The stablecoin provider issued a statement pushing back at ‘false rumors’ that its USDT coin is largely backed by Chinese and Asian commercial paper. The world’s leading stablecoin issuer, Tether, has for the first time debunked claims that it is still using Chinese commercial paper. For a long time, according to the With reports of Tether’s exposure to Chinese securities circulating, the firm is clarifying that its holdings were mostly in the banking sector and were always liquid and from Tether is now facing allegations that its reserves rely heavily on Chinese commercial paper. On the other hand, Tether has not formally denied a lack of commercial The parent company of USDT, Tether, has released a statement reiterating that its reserves have zero exposure to Chinese commercial paper. According to the team at “Tether’s portfolio holds no Chinese commercial paper and as of today, its total commercial paper exposure has been reduced yet again to a mere ~3.7B (from 30B in Reducing commercial papers to zero demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market. This is a step towards even

Tether Reduces Commercial Paper to $3.7B, Denies Chinese Links: Setting the Record Straight

Stablecoin issuer Tether Holdings Limited has unwound its exposure to commercial paper, addressing a long-standing item of contention among detractors. Addressing concerns about the composition of its reserves, Tether is now facing allegations that its reserves rely heavily on Chinese commercial paper. However, the parent company of USDT, Tether, has released a statement reiterating that its reserves have zero exposure to Chinese commercial paper. According to the team at Tether, their commitment to transparency and security is paramount.

Tether Debunks Claims of Chinese Commercial Paper Backing

The stablecoin provider issued a statement pushing back at ‘false rumors’ that its USDT coin is largely backed by Chinese and Asian commercial paper. The world’s leading stablecoin issuer, Tether, has for the first time debunked claims that it is still using Chinese commercial paper. For a long time, according to reports, Tether’s exposure to Chinese securities circulating, the firm is clarifying that its holdings were mostly in the banking sector and were always liquid and from reputable institutions.

Commercial Paper Holdings Significantly Reduced to $3.7 Billion

Tether’s commitment to securing its reserves is evident in its strategic moves. “Tether’s portfolio holds no Chinese commercial paper and as of today, its total commercial paper exposure has been reduced yet again to a mere ~3.7B (from 30B in previous reports). Reducing commercial papers to zero demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market. This is a step towards even greater stability and trust within the cryptocurrency ecosystem.

While On the other hand, Tether has not formally denied a lack of commercial documentation in the past, they are now proactively addressing these concerns by significantly reducing and diversifying their holdings. This move aims to build confidence and mitigate any potential risks associated with the USDT stablecoin.

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