Tether tries T-Bills
Everyone grimaces just a teensy bit when they talk about Tether and the USDT stablecoin. For better or worse Tether has a rather maligned history. All manner of suspect behavior, unbacked funds, or outright deceptive reporting has cast a shadow across their otherwise broadly used stablecoin.
Indeed, Tether has time and again taken a pro-crypto stance when dealing with government regulation or asset freezing requests (Tornado Cash).
And now once again we see a move by Tether, albeit not outside accredited, to remove commercial paper from it’s balance sheets and hold almost entirely U.S. T-bills. If this is indeed true (would be cool if they’d open up for public accounting) it’s another move towards greater stability from this already highly stable-coin.