Tether continues to reduce commercial paper in sharp reduction since March
Cointelegraph
Published Jul 01, 2022 12:30PM ET
Updated Jul 02, 2022 02:20PM ET
Tether is reducing its commercial paper holdings on pace with plans, the stablecoin company reported Friday. It has reached the target sum of $8.4 billion in commercial paper, as per intentions first disclosed last month, and will continue to reduce its holdings in the immediate future.
On July 31, $5 billion of Tether’s commercial paper holdings will expire, leaving the company with $3.5 billion dollars’ worth in its portfolio. As a result, treasury reserves will make up a larger proportion of the company’s reserves, the report emphasized.
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Written By: Cointelegraph
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