Tether USDt

In a remarkable financial feat, Tether (USDT), the world’s largest <a href="https://blockchainreporter.net/glossary/stablecoin/" rel="noopener noreferrer nofollow">stablecoin</a>, has declared that it currently holds a staggering $72.5 billion in the U.S. Treasury bonds, solidifying its position as the 22nd largest holder of such assets in the world. This announcement, made by Tether’s Chief Technology Officer (CTO) Paolo Ardoino via Twitter, underscores the stablecoin’s ever-expanding presence in the global financial landscape.Tether’s latest achievement surpasses the holdings of prominent countries like the United Arab Emirates, Mexico, Australia, and Spain, reflecting the growing influence of cryptocurrencies in traditional financial markets. Circle, a competitor in the stablecoin market, also recently disclosed its holdings of U.S. Treasuries, reporting a sum of more than $8.389 billion as of the end of July, according to the company’s <a href="https://www.circle.com/hubfs/USDCAttestationReports/2023/2023%20USDC_Circle%20Examination%20Report%20July%202023.pdf" rel="noopener noreferrer nofollow">monthly certification</a>.Paolo Ardoino, CTO of Tether, shared his thoughts on this remarkable milestone, <a href="https://twitter.com/paoloardoino/status/1698943028541419795?s&#61;20" rel="noopener noreferrer nofollow">stating</a>, “While Tether reached $72.5 billion exposure in U.S. Treasury bills, making it the top 22nd buyer globally, above United Arab Emirates, Mexico, Australia, Spain, USDT is the most used stablecoin in the world, with a huge focus on emerging markets. For many of these communities, USDT is a lifeline to protect themselves and their families from the insane inflation of their national currencies.”<h2 id="header-0">Tether’s Dominance Continues</h2>This achievement comes on the heels of Tether’s recent announcement regarding its robust financial performance in the second quarter of 2023. As of July 31, Tether’s assets experienced a remarkable 5.7% increase, reaching a total of $86.5 billion. This surge was accompanied by a noteworthy operational profit of more than $1 billion, representing a 30% increase from the previous quarter.Tether’s holdings of U.S. Treasury bills have also shown substantial growth, climbing by 5.2% to reach $55.8 billion by the end of March. Additionally, non-U.S. Treasury bills surged by over 30% from the previous quarter, reaching $62.9 million. In addition to U.S. Treasury bonds, Tether boasts a diversified investment portfolio, which includes $115 million in corporate bonds, $3.3 billion in precious metals, $1.7 billion worth of <a href="https://blockchainreporter.net/bitcoin-price/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a>, $5.5 billion in secured loans, and $2.4 billion in unspecified “other investments.”Tether’s impressive expansion and holdings further highlight the increasing importance of cryptocurrencies in the global financial <a href="https://blockchainreporter.net/glossary/digital-asset-ecosystem/" rel="noopener noreferrer nofollow">ecosystem</a>. As stablecoins like USDT continue to gain prominence, they are poised to play a pivotal role in shaping the future of finance, providing individuals and communities around the world with vital tools for financial stability and protection against currency devaluation. With its soaring U.S. Treasury bond holdings and continued growth, Tether remains at the forefront of the digital currency revolution, emphasizing its commitment to supporting users in emerging markets.

Tether Surpasses Major Nations in U.S. Treasury Bonds Holdings, Becomes 22nd Largest Global Holder

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