.Tether_to has reduced its commercial paper holding to below $50 million. The stablecoin issuer had earlier said it will reduce its commercial paper holding to zero by the end of the year. By parikshitm899
As of September 30, the company increased its holding of U.S. Treasuries to 58.1% of its total portfolio from 43.5% of its total portfolio as of June 30.
Commercial papers are short-term unsecured debt issued by companies, where the value of the papers is dependant on the issuing company. Commercial papers are less stable than other debt instruments, like U.S. government treasuries. Tether had earlier said that it will bring its commercial paper holdings to zero by the end of the year on the back of growing concerns over the stability of its ecosystem and its stablecoin USDT.