Tether Holds $91 Billion in US Treasuries

0 0
Read Time:1 Minute

Tether’s Impressive Financial Report

In the initial quarter of this year, Tether revealed a substantial $4.52 billion profit. The stablecoin issuer’s consolidated financial statement exposed that by March 31, the company held an impressive $91 billion in both direct and indirect US treasury bill holdings. Additionally, Tether boasts a significant $5.4 billion investment in Bitcoin.

International Ranking and Impact

According to data from the Treasury in March, Tether stands as the 19th largest holder of US treasuries worldwide, positioned between South Korea and Germany. Noteworthy shifts have been observed in the global landscape as prominent players such as China have divested treasuries, reducing their holdings from $869 billion to $767 billion in the past year. Concurrently, Japan, currently the largest holder with approximately $1.2 trillion, may face the need to sell off holdings due to a depreciating yen.

Comparison of Treasury Holdings

  • Korea, South
    • 2024-03: 115.9
    • 2024-02: 119.2
    • 2024-01: 118.6
  • Germany
    • 2024-03: 90.2
    • 2024-02: 90.8
    • 2024-01: 90.2

Source: Treasury.gov

Advocacy for Stablecoin Regulation

A video shared by Radar on X exhibited former House Speaker Paul Ryan endorsing stablecoin regulation for two crucial reasons: the surge in demand for treasuries and the consolidation of the dollar’s influence in the evolving digital asset domain. As stablecoins augment their treasury investments, the potential for fortifying the US dollar’s prominence within the digital asset sphere intensifies.

Image/Photo credit: source url

About Post Author

Chris Jones

Hey there! 👋 I'm Chris, 34 yo from Toronto (CA), I'm a journalist with a PhD in journalism and mass communication. For 5 years, I worked for some local publications as an envoy and reporter.
See also
TSMC to Receive $6.6 Billion for US Chipmaking
Today, I work as 'content publisher' for InformOverload. 📰🌐 Passionate about global news, I cover a wide range of topics including technology, business, healthcare, sports, finance, and more. If you want to know more or interact with me, visit my social channels, or send me a message.
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %