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In November 2022, Tether claimed that they hold US$40B in US Treasury bills "with an average maturity of less than 45 days". https://assets.ctfassets.net/vyse8

In November 2022, Tether claimed that they hold US$40B in US Treasury bills "with an average maturity of less than 45 days". https://assets.ctfassets.net/vyse88cgwfbl/1Xfu4398CIoMiuKjPhvnHM/6d1608c90bb775d2d432b7b24264da28/ESO.02_Std_ISAE_3000R_Opinion_30-9-2022_RC134792022BD0548.pdf https://assets.ctfassets.net/vyse88cgwfbl/1Xfu4398CIoMiuKjPh... (Whether you should believe this claim is, of course, another story entirely.)

beefield 4y ago
My understanding is that US Treasury issues a bit more than 1000 billion USD worth T-bills each month. If this is true, Tether must be one of the largest T-bill purcahser (multiple percentages of total issuance every month). Count me sceptic. Somehow I would assume this would be big news in finacial world. Edit: how do they claim bying them? I thought they had no us banking access?