Does Anyone Care About Tether's Chinese Paper?
The Breakdown
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Tether's Banking Relationships
Tether was once partly backed by Chinese securities. In 2021, tether held billions of dollars of short term bonds issued by Chinese corporations. During that period of stress in Chinese bonds, tether committed to removing all corporate paper from their reserves. If current attestation are to be believed, tether now holds less than half a percent point of their reserves in corporate bonds.
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Transcript
