Tuesday, June 18, 2024

Tether holds extra US Treasuries than Germany, ranks nineteenth globally

Fast Take

Tether reported a huge $4.52 billion revenue within the first quarter of the 12 months.

Notably, the stablecoin issuer’s consolidated monetary figures revealed that as of March 31, it held a staggering $91 billion in direct and oblique US treasury invoice holdings. In the meantime, the corporate additionally holds a considerable $5.4 billion in Bitcoin.

Tether’s Financial Report (Source: Tether)
Tether’s Monetary Report (Supply: Tether)

Based mostly on the Treasury’s March knowledge, Tether is the nineteenth largest holder of US treasuries amongst sovereign nations, nestled between South Korea and Germany.

Nonetheless, the panorama is shifting as main gamers like China have offloaded treasuries, dropping from $869 billion to $767 billion over the previous 12 months. Concurrently, Japan, the most important holder with round $1.2 trillion, could must promote amid a weakening yen.

Nation 2024-03 2024-02 2024-01 2023-12 2023-11 2023-10 2023-09 2023-08 2023-07 2023-06 2023-05 2023-04 2023-03
Korea, South 115.9 119.2 118.6 119.0 116.0 113.9 112.9 117.8 115.7 110.5 111.4 113.9 113.9
Germany 90.2 90.8 90.2 87.3 104.5 102.3 96.4 96.3 95.5 92.0 87.4 85.5 85.5

Supply: Treasury.gov

A video clip shared by Radar on X reveals former Home Speaker Paul Ryan advocating for stablecoin regulation for 2 key causes: elevated demand for treasuries and additional entrenchment of the greenback into the digitizing digital asset ecosystem.

As stablecoins’ treasury holdings enhance, their potential to bolster the U.S. greenback within the digital asset house correspondingly strengthens.

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