Tether: Could Rank Among Top Ten US Treasury Buyers This Year

Odaily News Tether's US subsidiary CEO and former White House crypto advisor, Bo Hines, stated that as demand for USDT and the newly launched stablecoin USAT continues to grow, Tether is expected to further increase its holdings of US Treasury bills (T-bills) this year and has the potential to become one of the world's top ten buyers of US debt.

Data shows that USDT is currently the largest stablecoin by market capitalization, with a circulating supply of approximately $185 billion. According to the latest proof of reserves, about 83.11% of Tether's reserve assets are allocated to US Treasury bills, with a total value exceeding $122 billion. Hines noted that this scale has already positioned Tether within the top twenty foreign holders in the US Treasury Department's rankings, placing it between Germany and Saudi Arabia.

Hines also revealed that since its launch in 2014, the number of USDT users has reached approximately 530 million, currently growing at a rate of about 30 million users per quarter.