Tether’s holdings of U.S. Treasuries surpass Germany’s, ranking 19th in the world
Tether released its comprehensive financial data for the first quarter of this year, which showed that as of March 31st, its direct and indirect holdings of US Treasury bonds were worth as much as $91 billion. At the same time, the company also held $5.4 billion worth of Bitcoin. According to data from the Treasury Department in March, Tether is the 19th largest holder of US Treasury bonds among sovereign nations, between South Korea and Germany. Former Speaker of the House, Paul Ryan, called for regulation of stablecoins because Tether's holdings of US Treasury bonds support the digital fortress of the US dollar.
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