Wall Street brokerage Cantor Fitzgerald has been supervising Tether Holdings’ $39B Treasury bond portfolio according to the Wall Street Journal. Hong Kong-based Tether is the issuer of stablecoin tether (USDT-USD), the world’s most traded digital token with a market cap of $68.2B.
The news followed Tether’s attestation report Thursday showing its assets stood at $67.04B at the end of 2022, 58% ($39.2B) of which consisted of government backed Treasury bills.
The company started moving its reserves into Cantor in late 2021, around the time it paid a civil monetary penalty of $41M to settle charges brought against by the Commodity Futures Trading Commission.
Separately, Federal Reserve Board Governor Christopher Waller said earlier that cryptocurrency is “nothing more than a speculative asset, like a baseball card.”
The company behind the largest stablecoin USDT \u2013 revealed a net profit of around $700 million in the fourth quarter of 2022. It ended last year with excess reserves of $960 million and at least $67 million billion in consolidated total assets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Wall Street brokerage Cantor Fitzgerald has been supervising Tether Holdings’ $39B Treasury bond portfolio according to the Wall Street Journal. Hong Kong-based Tether is the issuer of stablecoin tether (USDT-USD), the world’s most traded digital token with a market cap of $68.2B.The news followed Tether’s attestation report Thursday showing its assets stood at $67.04B at …<\/p>\n","protected":false},"author":13,"featured_media":79835,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[10207,7546],"class_list":["post-79828","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-cantor-fitzgerald","tag-tether"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=79828"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79828\/revisions"}],"predecessor-version":[{"id":79833,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79828\/revisions\/79833"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/79835"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=79828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=79828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=79828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}