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Almost 60 percent government bonds Tether plays it safe

 


Tether's Chief Technology Officer (CTO), Paulo Ardoino, announced on Twitter on Oct. 3 that the stablecoin project recently reduced its holdings of so-called "commercial papers" to less than $50 million.

"Commercial Papers" are short-term debt instruments issued by companies to raise funding.

At the same time, Tether has increased the proportion of “US Treasury bills” in the portfolio and holds “58.1% of its assets in US t-bills”.

Such government bonds are said to be more stable than "commercial paper" because they promise a theoretical zero risk of default. They are considered a safe investment because the trust and creditworthiness of the US government guarantees that interest and principal payments will be made on time.

In June , hedge funds put massive pressure on the stablecoin Tether. Within a month, Tether had to pay out $16 billion in redemptions. As a result, they lost almost 20 percent of their reserves.

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