Izdavač stabilnih valuta konopac has eliminated commercial papers from its USDT reserve, according to its latest reserve update.
konopac objavio on Oct. 13 that it has cut its commercial paper to zero and will invest more in U.S. Treasury Bills and short-term government-issued debt.
Tether je rekao:
„Smanjenje komercijalnih zapisa na nulu pokazuje Tetherovu posvećenost da svoje tokene podrži najsigurnijim rezervama na tržištu.”
According to Tether, holding its reserve in more secured assets will help increase the company’s transparency and bring greater protection for investors’ funds.
Tether added that it improve its transparency by sharing details of the USDT reserve in its quarterly attestation reports.
Road to zero commercial paper
Since 2017, Tether has been criticized for lack of transparency on the nature of assets backing the USDT stablecoin. In May, glasine emerged that 85% of Tether’s reserves were held in Chinese commercial papers.
In defense, Tether said its reserve is comprised of less than 25% commercial paper but obećao to slash it down to zero by year-end.
U julu, Tether objavio that it has cut its commercial paper portfolio to a low of $3.5 billion, down from the previous high of $8.5 billion.
By the end of Sept. 30, Tether prijavljeno that its commercial paper holdings sat below $50 million after $3 billion of the holdings expired.
Source: https://cryptoslate.com/tether-reduces-commercial-paper-reserves-for-usdt-to-zero/