Is Tether Dumping Its Massive Bitcoin Holdings? CEO Shares The Truth
Paolo Ardoino, CEO of Tether, has dismissed talk of a Bitcoin sell-off, making it clear that the company continues to direct part of its profits into Bitcoin, gold, and even land. His comments come in the wake of speculation that the stablecoin giant had reduced its exposure to BTC in order to accumulate more gold. […]
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On Monday, the chief technology officer of Tether Holdings Limited, Paolo Ardoino, explained that U.S. Treasury bills represent more than 58% of the company’s reserves. The announcement follows Tether hiring the accounting firm BDO Italia and the stablecoin issuer’s quarterly attestation, which had shown a decrease in commercial paper holdings.
Tether’s Commercial Paper Holdings Shrank to Less Than $50 Million
According to Tether’s CTO, U.S. Treasuries account for a large fraction of the company’s USDT reserves. Tether’s CTO Paolo....
On October 13, 2022, Tether Holdings Limited announced that the stablecoin issuer has reduced the company’s commercial paper holdings down to zero. The company has said it would reach this goal for a while now, and Tether says that shrinking commercial paper holdings down to zero “demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market.” Tether Axes $30 Billion Worth of Commercial Paper Holdings, Firm Leverages US T-Bills Instead The company behind the largest stablecoin by market capitalization, Tether, has revealed....
Binance is dumping all of its FTX token (FTT) holdings “Due to recent revelations that have come to light,” CEO Changpeng Zhao has confirmed. “Regarding any speculation as to whether this is a move against a competitor, it is not,” he added. “Our industry is in its nascency and every time a project publicly fails it hurts every user and every platform.” Binance Liquidating All FTX Tokens on Its Books The CEO of global cryptocurrency exchange Binance, Changpeng Zhao (CZ), announced via Twitter Sunday that his exchange is liquidating all of the FTX tokens....
Amid speculation that Tether, issuer of the largest stablecoin in the crypto market USDT, could launch its blockchain, the company’s CEO, Paolo Ardoino, has addressed the rumors with key details. Tether Abandons Plans To Launch Own Blockchain In an interview with Bloomberg News, Ardoino acknowledged Tether’s technological capabilities but noted that blockchains are rapidly becoming […]
An independent review from the accounting firm BDO reported that the stablecoin issuer's total assets exceed its consolidated liabilities. An announcement from USDT issuer Tether Holdings Limited revealed information from an independent attestation about the company’s previous quarter's performance. The reviewer, top accounting firm BDO Italia, assessed Tether’s assets as of June 30, 2022. Tether had previously announced a commitment to decreasing its commercial paper holdings by the end of August 2022. Data from the report revealed a 58% decrease in commercial paper exposure since the....