In a recent post on the platform X (formerly known as Twitter), Ardoino shared that Tether’s current holdings in US Treasury bills stand at $72.5 billion.
Ardoino emphasized the significance of Tether (USDT) in emerging markets, highlighting how the stablecoin can serve as a “lifeline” for communities to protect themselves against the rampant inflation often witnessed in their national currencies.
Stablecoins, including Tether, have demonstrated their importance in the crypto market, with a total circulation of $125 billion as of early September. Notably, major institutions like PayPal have also entered the stablecoin arena.
Ardoino’s announcement regarding Tether’s holdings of T-bills offers reassurance to the crypto community. Treasury bills are short-term debt obligations backed by the United States government, making them an asset equivalent to the stablecoin they represent.
At the time of this report, Tether holds the top position in terms of market capitalization among stablecoins, according to data from the cryptocurrency statistics website CoinMarketCap.