Tether is doing their best to keep the stable coin stable.  They have always had enough documents to back their words. For many, Tether has always been associated with reliability.

Paolo Ardoino previously stated, “Tether is not competing with banks; it’s taking over the role of core financial infrastructure in the many places where banks gave up, leaving entire communities alone.”

Tether (USDT) Eliminating Their Commercial Paper

Tether expressed: “Tether is proud to announce that we have eliminated commercial paper from our reserves. This is evidence of our commitment to back our tokens with the most secure, liquid reserves in the market.

Tether has eliminated over $30 billion dollars of commercial paper without any losses, a proof of how Tethers’ reserves are conservatively and professionally managed. Tether has also increased its direct exposure to US Treasuries by more than $10 billion in the last quarter.

This announcement further ensures that Tether has a diversified portfolio with limits to exposure to higher-risk assets. It demonstrates Tether’s commitment to lead by example, as part of our ongoing push toward increased transparency for the stable coin industry.”

Response to Commercial Paper Elimination by Tether (USDT) Followers 

Believers of USDT have to say, “Tether has kept to its promise and eliminated all its Commercial paper holdings. This is very commendable and makes USDT stronger and more liquid.”

Controversies were prevailing over whether Tether will be able to sustain its reserve backing. Critics called for auditing of the reserves on a real-time basis. There were forever concerns about guarantees of redemption.

There is no news that goes without criticism.  In response to the Commercial Paper news critics are like: “Tether supposedly owned at one point up to 5% of all the world’s commercial paper, yet nobody has ever heard of Tether doing business with anyone related to commercial paper. The commercial paper backing was always a lie. No one, not a single person, has seen Tether do business with commercial paper, was all a lie?”

FUD around Tether (USDT) Commercial Paper Elimination

Many of them are wondering how it was possible for Tether to eliminate $30 billion in commercial paper without any losses in this market.

Some of them are reading in between lines and they have to say that the commercial paper elimination off reserves is wordsmithing because “Direct exposure to U.S. Treasury Bills (T-Bills), an asset backed by the US government, now makes up the majority of Tether’s reserves.”

Reportedly, in real-time transactions, Tether is being accepted for yoga classes, arts, drinks, and more in Mexico.