{"id":62956,"date":"2022-06-15T16:52:01","date_gmt":"2022-06-15T13:52:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62956"},"modified":"2025-09-05T21:08:26","modified_gmt":"2025-09-05T18:08:26","slug":"tether-denies-claims-that-85-of-its-usdt-reserves-are-backed-by-chinese-commercial-paper","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tether-denies-claims-that-85-of-its-usdt-reserves-are-backed-by-chinese-commercial-paper\/","title":{"rendered":"Tether denies claims that 85% of its USDT reserves are backed by Chinese commercial paper"},"content":{"rendered":"<p>Tether said that rumors that 85% of the reserves backing the stablecoin USDT were held in Chinese commercial papers trading at a 30% discount are false.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Tether Condemns False Rumours About Its Commercial Paper Holdings <a href=\"https:\/\/t.co\/J2Oj4lTNPy\">https:\/\/t.co\/J2Oj4lTNPy<\/a><\/p>\n<p>\u2014 Tether (@Tether_to) <a href=\"https:\/\/twitter.com\/Tether_to\/status\/1536973480826109953?ref_src=twsrc%5Etfw\">June 15, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm suggested that the information is being spread by some \u201cco-ordinated funds\u201d to reap additional profits in an already stressed market.<\/p>\n<p>The issuer reminded that it has steadily <a href=\"https:\/\/u1f987.com\/en\/news\/tether-trims-usdt-collateral-in-commercial-paper-by-17\">reduced the share of commercial papers<\/a> in its reserves. As of March 31, it stood at 25%. By contrast, US Treasury securities accounted for 47%.<\/p>\n<p>Since then, the dollar value of commercial papers in the portfolio has fallen from $20 billion to $11 billion. It is expected to reach $8.4 billion by the end of June.<\/p>\n<p>According to CoinGecko, the market capitalisation of the leading stablecoin stands at around $71.4 billion. USDC, the second-largest by supply, stood at $54.7 billion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/tzaJ3VOT3zi48rmtvC7A5ez2ypKsnMj8mmrRXjcvW9Hg1U0aRuEsx4JnvL-1OrKmsd1u4C2-hv7ZQxoWLd-osYRqZm_S91ZZ2LMCdR8VPi45lRxY9UjlxDYFZS79C3_Vc_vt5hOaEK0DxXim9Q\" alt=\"Tether denies dominance of reserves by Chinese commercial papers\"\/><figcaption>Data: CoinGecko.<\/figcaption><\/figure>\n<p>Tether emphasised that <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-token-plunges-50-amid-withdrawal-suspension\">the unwinding of Celsius positions<\/a> did not incur losses.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cCurrently, Tether has no relationship with Celsius, except for small <a href=\"https:\/\/u1f987.com\/en\/news\/tether-says-celsius-incident-did-not-affect-usdt-reserves\">investments<\/a> in the stock of the crypto-lending platform,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>The company also said that reports that Tether loaned to Three Arrows Capital, which <a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-co-founder-breaks-silence-amid-insolvency-rumors\">allegedly faced solvency problems<\/a>, were false.<\/p>\n<p>Earlier, Cumberland&#8217;s crypto OTC platform <a href=\"https:\/\/u1f987.com\/en\/news\/cumberland-market-maker-warned-of-the-collapse-of-one-of-the-leading-stablecoins\">suggested<\/a> that the next asset at risk of a crash could be one of the leading stablecoins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether said that rumors that 85% of its USDT reserves were backed by Chinese commercial paper trading at a 30% discount are false.<\/p>\n","protected":false},"author":1,"featured_media":62957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1245],"class_list":["post-62956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=62956"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62956\/revisions"}],"predecessor-version":[{"id":62958,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62956\/revisions\/62958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/62957"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=62956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=62956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=62956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}