{"id":150555,"date":"2023-09-06T08:04:57","date_gmt":"2023-09-06T02:34:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=150555"},"modified":"2023-09-06T08:04:57","modified_gmt":"2023-09-06T02:34:57","slug":"tethers-ardoino-says-its-now-a-top-buyer-of-us-treasury-bills-holds-72-5b-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/tethers-ardoino-says-its-now-a-top-buyer-of-us-treasury-bills-holds-72-5b-crypto-news\/","title":{"rendered":"Tether\u2019s Ardoino says it\u2019s now a top buyer of US Treasury bills, holds $72.5B – Crypto News"},"content":{"rendered":"
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Stablecoin issuer Tether has become one of the world\u2019s top buyers of United States Treasury bills, according to Tether chief technology officer Paolo Ardoino.\u00a0<\/p>\n

In a social media post, Ardoino highlighted that Tether currently has an exposure of $72.5 billion in Treasury bills<\/a>. The amount places the stablecoin issuer among the top 22 holders, ranking above many countries, including Spain, Mexico, Australia and the United Arab Emirates, he said. <\/p>\n

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While @Tether_to<\/a> reached 72.5B exposure in US t-bills, being top 22 buyer globally, above United Arab Emirates, Mexico, Australia, Spain, …$USDt<\/a> is the most used stablecoin in the world, with a huge focus on emerging markets. For many of these communities USDt is a lifeline\u2026 https:\/\/t.co\/7hC12Nhzdq<\/a><\/p>\n

\u2014 Paolo Ardoino (@paoloardoino) September 5, 2023<\/a><\/p><\/blockquote>\n

Ardoino believes this development demonstrates the relevance of USDT (USDT<\/a>) in various emerging markets across the globe. According to him, USDT is providing communities a \u201clifeline to protect themselves\u201d against the rampant inflation in their national currencies.\u00a0<\/p>\n

The executive\u2019s sentiments came in response to another social media post highlighting<\/a>\u00a0the lowering rate of China\u2019s ownership of U.S. T-bills. According to the report, China is getting out of U.S. debt and is moving its funds into gold.\u00a0<\/p>\n

Tether\u2019s ownership of billions worth of T-bills was also reported by the company earlier this year. On July 31, the company released a reserves attestation for USDT<\/a>\u00a0stating it\u00a0holds up to $3.3 billion in excess reserves for its stablecoin. <\/p>\n

Related: <\/em><\/strong>Cronos Labs begins recruitment phase for $100M accelerator program<\/em><\/strong><\/a><\/p>\n

Meanwhile, Tether continues to try to expand its reach. On Aug. 29, it\u00a0added a private bank in the Bahamas<\/a> called Britannia Bank & Trust as a partner to process dollar transfers within its platform. The company joins Tether\u2019s roster of banking partners, which include Deltec Bank and Capital Union Bank. <\/p>\n

Magazine: <\/em><\/strong>GTA owner joins Web3, Bitcoin casino, Sunflower Land review: Web3 Gamer<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Stablecoin issuer Tether has become one of the world\u2019s top buyers of United States Treasury bills, according to Tether chief technology officer Paolo Ardoino.\u00a0 In a social media post, Ardoino highlighted that Tether currently has an exposure of $72.5 billion in Treasury bills. The amount places the stablecoin issuer among the top 22 holders, ranking […]<\/p>\n","protected":false},"author":2,"featured_media":150556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-150555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=150555"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150555\/revisions"}],"predecessor-version":[{"id":150558,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150555\/revisions\/150558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/150556"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=150555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=150555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=150555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}