Tether Cuts Use of Commercial Paper, Certificates of Deposit
- The world’s biggest stablecoin issuer continues to grow
- Tether is used by traders during times of high volatility
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Tether -- the issuer of the world’s most used stablecoin -- reduced its investments in commercial paper and certificates of deposit during the last quarter of 2021, accounting to an accounting firm’s report.
British Virgin Islands-based Tether had assets of at least $78.7 billion, the accounting firm said. Of that, the company invested $24.2 billion into certificates of deposit and commercial paper, down from about $30.6 billion at the end of September, according to accounting reports.