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The Defiant 2025-03-20 20:05:15

Tether, Valued at $143 Billion, Ranks Seventh in U.S. Treasury Purchases with $33.1 Billion, Surpassing Several Nations

Tether, Valued at $143 Billion, Ranks Seventh in U.S. Treasury Purchases with $33.1 Billion, Surpassing Several Nations

Tether, valued at $143 billion and the issuer of the stablecoin USDT, has emerged as the seventh-largest buyer of U.S. Treasuries in 2024, according to statements from Tether CEO Paolo Ardoino. The company's investment in U.S. Treasuries reached $33.1 billion, surpassing the holdings of several countries including Canada, Taiwan, Mexico, Norway, and Hong Kong. This significant purchase places Tether ahead of nations like South Korea, Germany, Saudi Arabia, and Switzerland when combined, highlighting the company's substantial influence in the global financial market. Tether's acquisition of U.S. Treasuries is part of its strategy to back its USDT stablecoin with safe and liquid assets. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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