Tether, a leader in stablecoin issuance, revealed a robust profit of US$4.52 billion in the first quarter of the year. At the close of the period, on March 31, the company had a significant portfolio of US$91 billion in US Treasury bonds, in addition to US$5.4 billion in Bitcoin. These numbers place Tether in 19th position among the largest global holders of US Treasury bonds, ahead of Germany and just after South Korea.
Global bond market dynamics have seen significant changes. China reduced its holdings from US$869 billion to US$767 billion last year, while Japan, which holds the largest share with approximately US$1.2 trillion, is also considering reducing its reserves due to the yen’s devaluation. These transformations underscore the growing impact of stablecoins like Tether on the global financial scene.
Paul Ryan, former speaker of the US House of Representatives, highlighted the need to regulate stable coins. In a video released by Radar on
Tether’s substantial investments in US Treasury bonds are a testament to its vital role in supporting the stability of the digital dollar. The company’s approach reflects a trend where digital assets are becoming increasingly central to the traditional financial ecosystem, not only stabilizing its tokens but also boosting demand for US government debt.
Ryan’s call for adequate regulation reinforces the need for a robust regulatory framework for stablecoins, ensuring transparent and secure operations, protecting investors and sustaining global financial stability.
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Source: https://portalcripto.com.br/tether-supera-a-alemanha-em-detencao-de-titulos-do-tesouro-dos-eua/
