cryptolinkbase.com

Why tether, the world's third-biggest cryptocurrency, has got economists worried

Category: Stablecoins -> Analysis

Type: article

https://www.cnbc.com/2021/07/07/tether-cryptocurrency-usdt-what-you-need-to-know.html

"In May, Tether broke down the reserves for its stablecoin. The firm revealed that only a fraction of its holdings " 2.9%, to be exact " were in cash, while the vast majority was in commercial paper, a form of unsecured, short-term debt. That would place Tether in the top 10 biggest holders of commercial paper in the world, according to JPMorgan. Tether has been compared to traditional money-market funds - but without any regulation. With more than $60 billion worth of tokens in circulation, Tether has more deposits than that of many U.S. banks."