The biggest name in the stablecoin market, Tether, has fallen by more than half in the financing bills it holds in its reserves.
According to an update from Tether’s site, the company USDT There has been a big change in the reserve it uses to support it.
Value of financing bills in reserve A cut of 58% was made and this is the value of the bonds $8.5 billion dropped it. The company will keep this number until the end of this month. $3.5 billion He wants to lower it.
According to the data in May, the company $20.1 billion valued financial bonds. If these new steps are taken Improving the quality of USDT reserves thrown for.
The value of the financing bills exporting companies depending on its value. Tether in its reserves to treasury bonds It plans to add more space. The company in May $39.2 billion he owned the bond.
Tether uses reserves to support USDT. security related is often criticized. Tether CTO Paolo Ardoino has responded to such criticisms. Spreading FUD (fear, uncertainty and doubt) He said it was made for