{"id":463150,"date":"2022-06-15T12:50:00","date_gmt":"2022-06-15T09:50:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tether-aims-to-decrease-commercial-paper-backing-of-usdt-to-zero\/"},"modified":"2022-06-15T12:50:00","modified_gmt":"2022-06-15T09:50:00","slug":"tether-aims-to-decrease-commercial-paper-backing-of-usdt-to-zero","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tether-aims-to-decrease-commercial-paper-backing-of-usdt-to-zero\/","title":{"rendered":"# Tether aims to decrease commercial paper backing of USDT to zero"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a279d4c8c0e6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a279d4c8c0e6\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/tether-aims-to-decrease-commercial-paper-backing-of-usdt-to-zero\/#%E2%80%9D_Tether_aims_to_decrease_commercial_paper_backing_of_USDT_to_zero_%E2%80%9C\" >&#8221; Tether aims to decrease commercial paper backing of USDT to zero &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Tether_aims_to_decrease_commercial_paper_backing_of_USDT_to_zero_%E2%80%9C\"><\/span>&#8221; Tether aims to decrease commercial paper backing of USDT to zero &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>The major stablecoin company Tether is looking to eventually get rid of commercial paper backing for its U.S. dollar-based stablecoin Tether (USDT).<\/p>\n<p>Tether <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tether.to\/en\/tether-condemns-false-rumours-about-its-commercial-paper-holdings\/\">issued<\/a> an official statement on Wednesday to deny reports alleging that Tether\u2019s commercial paper portfolio is 85% backed by Chinese or Asian commercial papers and is being traded at a 30% discount.<\/p>\n<p>The stablecoin firm called such allegations \u201ccompletely false,\u201d reiterating that more than 47% of total USDT reserves are now the \u201cUnited States Treasuries.\u201d In its latest assurance opinion issued in May, Tether <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/assets.ctfassets.net\/vyse88cgwfbl\/1np5dpcwuHrWJ4AgUgI3Vn\/e0dac722de3cea07766e05c52773748b\/Tether_Assurance_Consolidated_Reserves_Report_2022-03-31__3_.pdf\">reported<\/a> that commercial paper makes up less than 25% of USDT\u2019s backing, amounting to around $21 billion as of March 31.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/97dd8000-45c1-4b2d-b4ae-c0710e87665f.png\"><figcaption style=\"text-align: center;\"><em>USDT\u2019s backing asset breakdown. Source: Tether\u2019s assurance opinion released in May 2022<\/em><\/figcaption><\/figure>\n<p>According to the latest statement, Tether has continued to reduce its current portfolio of commercial paper, decreasing its volumes to $11 billion. The firm expects to further reduce it to $8.4 billion by the end of June 2022, eventually aiming to clear out its commercial paper backing, the statement reads:<\/p>\n<blockquote><p>\u201cThis will gradually decrease to zero without any incurrences of losses. All commercial papers are expiring and will be rolled into U.S. Treasuries with a short maturity.\u201d<\/p><\/blockquote>\n<p>Tether also once again mentioned the recent crisis of the Celsius lending platform, noting that Celsius position has been liquidated with no losses to Tether. \u201cTether has currently zero exposure to Celsius apart from a small investment made out of Tether equity in the company,\u201d the firm said.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Su Zhu\u2019s cryptic statement as rumors swirl of 3AC liquidations and insolvency<\/em><\/strong><\/p>\n<p>Tether also argued that reports suggesting that Tether has lending exposure to the crypto venture capital firm Three Arrows Capital are also \u201ccategorically false.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/tether-aims-to-decrease-commercial-paper-backing-of-usdt-to-zero\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Tether aims to decrease commercial paper backing of USDT to zero &#8220; The major stablecoin company Tether is looking to eventually get rid of commercial paper backing for its U.S. dollar-based stablecoin Tether (USDT). Tether issued an official statement on Wednesday to deny reports alleging that Tether\u2019s commercial paper portfolio is 85% backed by&#8230;<\/p>\n","protected":false},"author":1,"featured_media":463151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvOGM4YmQ5MTMtNjViNy00ZGQ1LTgwNjItNDllNzliNjIxYThhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74863,76153,75582,71939,117,36041,67874],"class_list":["post-463150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-cryptocurrencies","tag-dollar","tag-fiat-money","tag-banks","tag-business","tag-tether","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=463150"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/463151"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=463150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=463150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=463150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}