News Snapshot:
The world’s leading stablecoin issuer, Tether, has for the first time debunked claims that it is still using Chinese commercial paper. For a long time, according to the stablecoin issuer, Tether has cut down on its commercial paper exposure from $30 billion at the start of the month to $3.7 billion. Tether’s Commercial Paper Reserve Since the collapse of the Terra UST stablecoins, other stablecoins are at the receiving end of scrutiny regarding their long-term suitability. As a result, Tether finds itself trying to debunk rumors that its reserves are heavily dependent on Chinese commercial paper. However, Tether has not...
