Tether Now Holds $81B In Treasury Bills, Aims For Further Growth
Portfolio Pulse from Murtuza Merchant
Tether Holdings Ltd., a major stablecoin issuer, now holds $81 billion in U.S. Treasury bills, marking a significant presence in the Treasury market. This move is seen as a step towards better relations with the U.S. government and financial stability. Despite skepticism, Tether aims to become the largest holder of T-bills, supported by its partnership with Cantor Fitzgerald LP.
August 22, 2024 | 1:09 pm
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Tether's $81 billion investment in U.S. Treasury bills marks a significant step in its strategy to back its stablecoins with safe assets, potentially enhancing its credibility and influence in the financial market.
Tether's substantial investment in Treasury bills is a strategic move to back its stablecoins with safe assets, which could enhance its credibility and influence. This aligns with its goal to become the largest holder of T-bills, supported by its partnership with Cantor Fitzgerald.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90