Tether Holds More US Government Debt Than Australia
The Breakdown
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Tether's Excess Reserves
Tether has released their reserve attestation for quarter two and is now claiming to hold 3.3 billion in excess reserves. Tether says they recorded an excess of one billion dollars in operating profit during the last quarter which was a 30% increase from the previous. They claim to now have 72.5 billion dollars worth of exposure to US treasuries across direct T-bill holdings, repurchase agreements and deposits in money market funds. It means that tether now holds more US government debt than most medium sized national central banks.
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Transcript
