Tether Removes Commercial Paper from USDT's Reserves
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Tether (USDT) issuer has removed commercial paper from backing the stablecoin, replacing with US Treasury Bills.

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The company announced on Thursday in a press release that by reducing commercial papers, it wants to demonstrate its commitment to "backing its tokens with the most secure reserves in the market." The company said:

"This is a step towards even greater transparency and trust, not only for Tether but for the entire stablecoin industry."

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Tetner emphasized that it had reduced its exposure to commercial paper holdings "without any losses." As of September 30, Tether held below $50 million in commercial paper holdings.

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