This new initiative proves Tether's commitment to backing USDT with the most secure reserves
Tether has finally reduced its commercial paper holdings to zero. Instead, it is now opting for the U.S. Treasury bills. This announcement reportedly comes as a part of Tether's ongoing efforts to increase transparency. It proves that investor protection is at the forefront of Tether's reserve management. With this move, Tether addressed a long-standing point of contention among critics who have questioned the quality of its reserves.
Regarding the same, Tether took to its official Twitter handle to announce, "BREAKING: Tether is proud to announce that we have completely 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."