Move over, maple syrup enthusiasts and semiconductor overlords—Tether’s here to show you how it’s done. 🚀 The $143 billion stablecoin behemoth just became the world’s seventh-largest buyer of US Treasurys. Take that, global economy!
USDt (USDT), Tether’s brainchild, is now the stablecoin equivalent of aTreasury shopping spree, outpurchasing entire nations like it’s going out of style. 🛍️
With over $33.1 billion worth of treasuries in its digital pockets, Tether’s CEO Paolo Ardoino boasts that they’re only a few billion shy of the Cayman Islands’ $100 billion splurge. Because who needs tax havens when you have stablecoins? 🏖️💰
“Tether was the 7th largest buyer of US Treasurys in 2024, compared to Countries,” Ardoino casually dropped in a March 20 X post. NBD.
But hey, Luxembourg and the Cayman Islands are just show-offs, including “all the hedge funds buying into t-bills,” Ardoino pointed out. Tether’s figures? Just one entity ballin’ outta control. 💼🎉
Why is Tether investing in US Treasurys? Because when you’re a stablecoin, you’ve got to back that thing up with the safest, most liquid investments. And what’s safer than the US government’s IOUs? 🇺🇸💵
Tether’s growth spurt comes at a time when stablecoins are the new black in the investing and legislative worlds. Hot trend alert! 🔥
The stablecoin supply is now bigger than the GDP of some small countries, surpassing $219 billion and still climbing. Market mid-cycle or just getting started? You decide! 🤷♀️💸
Stablecoin Bill to Rule Them All by August? Blockchain Association Hypes It Up
US lawmakers are on a roll, aiming to pass a stablecoin bill by August. Kristin Smith of the Blockchain Association dropped this juicy tidbit at the Digital Asset Summit. 🗣️💡
Smith’s timeline is music to the ears of Bo Hines, who’s also expecting some solid stablecoin legislation. It’s like they’re planning a surprise party for the crypto world. 🎉🎂
“I’m optimistic,” says Smith, “when you’ve got the big guns in the House, Senate, and White House all on board. Bipartisan votes? It’s like a dream come true!” 🥰🇺🇸
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2025-03-20 16:13