Tether Wishes to Abolish the Commercial Paper that Underpins USDT!

Tether hopes to one day abandon the use of commercial paper to support its US dollar-based stablecoin. Tether's commercial paper holdings have been reduced to $11 billion. The company intends to reduce it even further, to $8.4 billion by the end of June 2022, in order to ultimately eliminate its commercial paper underpinning. “This will gradually decrease to zero without any incurrences of losses. All commercial papers are expiring and will be rolled into U.S. Treasuries with a short maturity.” Tether has denied making loans to the cryptocurrency venture capital firm Three Arrows Capital, calling the charges categorically false.