Tether Transfers Majority of USDT Budget to US Treasury Bonds
Most of the USDT collateral comes from US Treasuries. Over the past six months, the issuer of the stablecoin Tether has reduced positions in commercial securities, according to Bloomberg.
The share of collateral in private papers continues to decline. It was reported by the company's technical director Paolo Ardoino.He explained that this structure of the reserve allows the company to quickly meet its USDT redemption requirements.
On May 12, amid the collapse of the crypto market, the price of USDT briefly lost parity against the US dollar. Ardoino stressed that the company had no problems with repayment of obligations — over the past 24 hours, it bought back $600M in assets.
#stablecoins #tether #usdt
Most of the USDT collateral comes from US Treasuries. Over the past six months, the issuer of the stablecoin Tether has reduced positions in commercial securities, according to Bloomberg.
The share of collateral in private papers continues to decline. It was reported by the company's technical director Paolo Ardoino.He explained that this structure of the reserve allows the company to quickly meet its USDT redemption requirements.
On May 12, amid the collapse of the crypto market, the price of USDT briefly lost parity against the US dollar. Ardoino stressed that the company had no problems with repayment of obligations — over the past 24 hours, it bought back $600M in assets.
#stablecoins #tether #usdt
USDT holders have withdrawn $10B into fiat
Since the beginning of May, Tether Holdings Limited has bought $10B worth of tokens from USDT holders. It was reported by The Guardian.
The publication notes that users began to go into fiat amid the collapse of the algorithmic stablecoin UST and the LUNA token. On May 12, the price of USDT briefly lost parity against the US dollar — then the issuer redeemed $600M worth of assets in a day, according to Tether CTO Paolo Ardoino.
The media indicates that over the past few days, Tether has redeemed USDT for a total of $2.5B. The capitalization of the asset exceeds $73B, according to CoinGecko.
#fuji_news #stablecoin #UST #USDT #tether #crypto
Since the beginning of May, Tether Holdings Limited has bought $10B worth of tokens from USDT holders. It was reported by The Guardian.
The publication notes that users began to go into fiat amid the collapse of the algorithmic stablecoin UST and the LUNA token. On May 12, the price of USDT briefly lost parity against the US dollar — then the issuer redeemed $600M worth of assets in a day, according to Tether CTO Paolo Ardoino.
The media indicates that over the past few days, Tether has redeemed USDT for a total of $2.5B. The capitalization of the asset exceeds $73B, according to CoinGecko.
#fuji_news #stablecoin #UST #USDT #tether #crypto
Tether has launched the MXNT stablecoin pegged to the Mexican peso. It was announced by Tether on Twitter.
Initially, the asset is available on the Ethereum, Tron and Polygon networks. It is the company's fourth stablecoin pegged to fiat currencies after USDT (US dollar), EURT (euro) and CNHT (yuan).
The company noted that 40% of Mexican firms seek to implement blockchain and cryptocurrencies. The growth in demand for the stablecoin is also facilitated by the multibillion-dollar flow of transfers to the country from the US, according to Tether.
#fiji_news #crypto #tether #stablecoins
Initially, the asset is available on the Ethereum, Tron and Polygon networks. It is the company's fourth stablecoin pegged to fiat currencies after USDT (US dollar), EURT (euro) and CNHT (yuan).
The company noted that 40% of Mexican firms seek to implement blockchain and cryptocurrencies. The growth in demand for the stablecoin is also facilitated by the multibillion-dollar flow of transfers to the country from the US, according to Tether.
#fiji_news #crypto #tether #stablecoins
Tether denies rumors of Chinese commercial paper dominance in reserves
Tether has called false rumors that USDT's stablecoin reserves are backed with Chinese commercial paper by 85%, which trades at a 30% discount.
The firm suggested that the information was being spread by some coordinated funds to generate additional profits in an already stressed market.
The stablecoin issuer recalled that it is steadily reducing the share of commercial paper in reserves. As of March 31, it was 25%. Whereas US Treasuries accounted for 47%.
#fuji_news #crypto #tether #usdt #stablecoin
Tether has called false rumors that USDT's stablecoin reserves are backed with Chinese commercial paper by 85%, which trades at a 30% discount.
The firm suggested that the information was being spread by some coordinated funds to generate additional profits in an already stressed market.
The stablecoin issuer recalled that it is steadily reducing the share of commercial paper in reserves. As of March 31, it was 25%. Whereas US Treasuries accounted for 47%.
#fuji_news #crypto #tether #usdt #stablecoin
Cryptocurrencies pull away from FTX and Alameda Research
On November 9, journalist Colin Wu wrote a blog post asking Circle and Tether to release information about their relationship with FTX and Alameda Research. This was done after the announcement of an attempt to get rid of FTT.
We then provide Circle co-founder and CEO Jeremy Allaire's response: "Circle has never made loans to FTX or Alameda, and has never received FTT as collateral, and has never held a position in or traded FTT. In any case, Circle does not trade on its own account." And here is the response from Paolo Ardoino, CTO of Tether: "Just to be clear, #Tether has nothing to do with FTX or Alameda. 0. Null," he wrote on Twitter.
Representatives of other companies did the same. They claim that the current crisis will not affect them in any way.
#fuji_news #fuji_crypto
On November 9, journalist Colin Wu wrote a blog post asking Circle and Tether to release information about their relationship with FTX and Alameda Research. This was done after the announcement of an attempt to get rid of FTT.
We then provide Circle co-founder and CEO Jeremy Allaire's response: "Circle has never made loans to FTX or Alameda, and has never received FTT as collateral, and has never held a position in or traded FTT. In any case, Circle does not trade on its own account." And here is the response from Paolo Ardoino, CTO of Tether: "Just to be clear, #Tether has nothing to do with FTX or Alameda. 0. Null," he wrote on Twitter.
Representatives of other companies did the same. They claim that the current crisis will not affect them in any way.
#fuji_news #fuji_crypto