{"id":498068,"date":"2022-10-04T05:59:08","date_gmt":"2022-10-04T02:59:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tether-commercial-paper-exposure-now-under-50m-says-cto\/"},"modified":"2022-10-04T05:59:08","modified_gmt":"2022-10-04T02:59:08","slug":"tether-commercial-paper-exposure-now-under-50m-says-cto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tether-commercial-paper-exposure-now-under-50m-says-cto\/","title":{"rendered":"# Tether commercial paper exposure now under $50M, says CTO"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 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-6a3aba0ef279b\" 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-6a3aba0ef279b\" 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-commercial-paper-exposure-now-under-50m-says-cto\/#%E2%80%9D_Tether_commercial_paper_exposure_now_under_50M_says_CTO_%E2%80%9C\" >&#8221; Tether commercial paper exposure now under $50M, says CTO &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Tether_commercial_paper_exposure_now_under_50M_says_CTO_%E2%80%9C\"><\/span>&#8221; Tether commercial paper exposure now under $50M, says CTO &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvYWEwNzZmZTEtMDQxNy00Y2I5LTgxZjYtZDIzMTg1Yzc4ZjI3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ebd806f>Stablecoin issuer Tether (USDT) has nearly completely slashed its commercial paper holdings, with less than $50 million worth of commercial paper units as of Sept. 30, 2022.<\/p>\n<p>Tether CTO Paolo Ardoino made the announcement in an Oct. 3 tweet, adding also that Tether\u2019s United States Treasury bills increased to 58.1% of its total portfolio, up 25.1% from its Jun. 30 figure of 43.5%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/tether?src=hash&amp;ref_src=twsrc%5Etfw\">#tether<\/a> portfolio update. Tether as of 30 September 2022 holds ~58.1% of its assets in US t-bills. Up from 43.5% on June 30 2022.<br \/>CP exposure is &lt; 50M now.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Tether_to?ref_src=twsrc%5Etfw\">@Tether_to<\/a><\/p>\n<p>\u2014 Paolo Ardoino  (@paoloardoino) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1576876119328194562?ref_src=twsrc%5Etfw\">October 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nCommercial papers are short-term debt instruments issued by companies, which are often used to finance various business operations, while treasury bills are claimed to be more stable than commercial papers as they offer \u201czero default risk\u201d since investors are guaranteed to at least recoup the purchase price.<\/p>\n<p>In June,\u00a0Tether said it was aiming to decrease commercial paper backing of USDT to &#8220;zero,&#8221; and rolled into short-maturity U.S. Treasury bills \u2014 aimed at increasing the stability of its ecosystem and USDT stablecoin.<\/p>\n<p>The stablecoin issuer has also been seeking to increase transparency into its dollar reserves and backing.\u00a0<\/p>\n<p>In July, it\u00a0<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointed European accounting firm BDO Italia as a new auditor to independently review its stablecoin reserves in a bid to improve transparency and more regularly disclose audit and attestation reports. <\/p>\n<p>Last month,\u00a0Tether was ordered by a United States District Court in New York to provide documents that prove the U.S. dollar 1-to-1 backing of the USDT stablecoin on Sept. 19. <\/p>\n<p>As for when Tether\u2019s transparency report will be updated, Ardoino <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/yeluacaM\/status\/1576880146979913728?s=20&amp;t=6NyDK--Jsx1WS7QQR7nEyg\">said<\/a> the deadline usually takes 45 days, but now expects its new auditor to improve this process and reduce that timeline. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Tether aims to decrease commercial paper backing of USDT to zero<\/em><\/strong><\/p>\n<p>Tether\u2019s plan to slash its entire commercial paper holdings by the end of 2022 is well underway, with the firm cutting down its reserves from 20 billion units as of Q1 2022 to 8.4 billion units as of Q2 2022.\u00a0<\/p>\n<p>USDT is currently the largest stablecoin, with a market capitalization of $67.95 billion, the third highest of all digital assets according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a> data.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/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-commercial-paper-exposure-now-under-50m-says-cto\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Tether commercial paper exposure now under $50M, says CTO &#8220; Stablecoin issuer Tether (USDT) has nearly completely slashed its commercial paper holdings, with less than $50 million worth of commercial paper units as of Sept. 30, 2022. Tether CTO Paolo Ardoino made the announcement in an Oct. 3 tweet, adding also that Tether\u2019s United&#8230;<\/p>\n","protected":false},"author":1,"featured_media":498069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvYWEwNzZmZTEtMDQxNy00Y2I5LTgxZjYtZDIzMTg1Yzc4ZjI3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75493,74355,71511,70934,36041,67874],"class_list":["post-498068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-stablecoin","tag-adoption","tag-government","tag-regulation","tag-tether","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/498068","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=498068"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/498068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/498069"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=498068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=498068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=498068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}