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Tether, the world’s foremost stablecoin issuer, has astounded the financial world by revealing a staggering $72.5 billion investment in U.S. Treasury bonds. This remarkable disclosure, shared by Tether’s CTO Paolo Ardoino on Twitter, firmly underscores the escalating influence of cryptocurrencies within conventional financial markets.
While @Tether_to reached 72.5B exposure in US t-bills, being top 22 buyer globally, above United Arab Emirates, Mexico, Australia, Spain, …$USDt is the most used stablecoin in the world, with a huge focus on emerging markets. For many of these communities USDt is a lifeline… https://t.co/7hC12Nhzdq
— Paolo Ardoino 🍐 (@paoloardoino) September 5, 2023
Tether’s holdings in U.S. Treasury bonds now position it as the 22nd largest global holder of these assets, surpassing the holdings of prominent nations like the United Arab Emirates, Mexico, Australia, and Spain. Ardoino emphasized the pivotal role played by Tether in emerging markets, where USDT offers a dependable shield against rampant national currency inflation.
Ardoino remarked, “USDT is the most used stablecoin in the world, with a huge focus on emerging markets. For many of these communities, USDT is a lifeline to protect themselves and their families from the insane inflation of their national currencies.”
Tether Records Strong Performance in Q2 2023
The recent milestone arrives on the heels of Tether’s robust financial performance in Q2 2023. By July 31, Tether’s assets had surged by 5.7%, soaring to an impressive $86.5 billion. The company reported an operational profit exceeding $1 billion, representing a 30% leap from the previous quarter.
Tether’s investment portfolio boasts diversification, spanning corporate bonds, precious metals, Bitcoin, secured loans, and more. The treasury reserve swelled by $850 million in the last quarter, totaling $3.3 billion, further fortifying its liquidity and stability.
These developments spotlight the mounting significance of cryptocurrencies in the global financial landscape. As stablecoins like USDT continue their ascent, they are poised to play a pivotal role in shaping the financial future. They offer individuals and communities worldwide vital tools for safeguarding their financial stability against currency devaluation, further solidifying their position as transformative assets.
Tether’s ascent is a testament to the resilience and adaptability of the cryptocurrency market, which is poised to disrupt traditional finance while providing innovative solutions for an increasingly interconnected world.
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