Tether Eliminates $30B Unsecure Short-term Debt
Tether (USDT), one of the largest stablecoins on the market, has lately made headlines for numerous reasons. However, it was not all for positive reasons. The previous auditor of the company received an objection for “improper professional conduct.” In the meantime, the stablecoin issuer was requested to submit paperwork to the court in a proceeding. The network disclosed on October 3 that it had reduced its holding of commercial paper to less than $50 million in the midst of all of this. However, in one of the most recent tweets, the official Twitter handle of Tether confirmed that it has eliminated $30 billion in insecure short-term debt without incurring any losses. JUST IN: # Tether says it has eliminated $30 billion of unsecured short-term debt without any losses. — Watcher.Guru (@WatcherGuru) October 13, 2022 Tether says that it has brought commercial paper to zero Commercial papers are, to put it simply, unsecured, short-term financial ins...