Tag: Paper

Stablecoin Issuer Tether Fulfills Promise by Reducing Commercial Paper Holdings Down to Zero – Bitcoin News

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On October 13, 2022, Tether Holdings Limited announced that the stablecoin issuer has reduced the company’s commercial paper holdings down to zero. The company has said it would reach this goal for a while now, and Tether says that shrinking commercial paper holdings down to zero “demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market.” Tether Axes $30 Billion Worth of Commercial Paper Holdings, Firm Leverages US T-Bills Instead The company behind the largest stablecoin by market capitalization, Tether, has revealed that USDT’s reserves…

Tether reduces commercial paper exposure to zero, replaces investments with T-Bills

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Stablecoin issuer Tether Holdings Limited has unwound its exposure to commercial paper, addressing a long-standing item of contention among detractors who’ve criticized the quality of its reserves.  In addition to removing commercial paper from its reserves, Tether announced on Oct. 13 that it had replaced those investments with United States Treasury Bills. “Reducing commercial papers to zero demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market,” the company said. From roughly $30 billion down to zero, Tether has replaced its commercial paper holdings with…

Tether commercial paper exposure now under $50M, says CTO

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Stablecoin issuer Tether (USDT) has nearly completely slashed its commercial paper holdings, with less than $50 million worth of commercial paper units as of Sept. 30, 2022. Tether CTO Paolo Ardoino made the announcement in an Oct. 3 tweet, adding also that Tether’s United States Treasury bills increased to 58.1% of its total portfolio, up 25.1% from its Jun. 30 figure of 43.5%. #tether portfolio update. Tether as of 30 September 2022 holds ~58.1% of its assets in US t-bills. Up from 43.5% on June 30 2022.CP exposure is <…

US Senator Introduces ‘No Digital Dollar Act’ to Prohibit Treasury and the Fed From Interfering With Americans Using Paper Currency – Regulation Bitcoin News

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A U.S senator has introduced the “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency” if a central bank digital currency is adopted. The bill further states: “No central bank digital currency shall be considered legal tender under section 16 5103 of title 31, United States Code.” No Digital Dollar Act Introduced U.S. Senator James Lankford (R-OK) announced Thursday that he has introduced a bill titled “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve…

Australia Issues White Paper for Central Bank Digital Currency – Finance Bitcoin News

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Reserve Bank of Australia is researching the potential benefits of launching a central bank digital currency. The monetary authority released a white paper outlining its goals and invited interested parties to participate with proposals and suggest pilot projects. Central Bank of Australia to Pilot CBDC Until Middle of 2023 The Reserve Bank of Australia (RBA) has set out to explore use cases for a digital version of the Australian dollar. It’s collaborating on the project with the Digital Finance Cooperative Research Centre (DFCRC), a research program funded by the government…

New Cosmos White Paper Revamps Cosmos Hub, ATOM Token

With its newly refined vision, the “Cosmos Hub is taking its place within the interchain,” says Ethan Buchman, the Cosmos co-founder and head of Cosmos research and development shop Informal Systems. “[The Hub] is still not going to dominate the interchain or own the whole interchain or bring everyone under its umbrella,” explained Buchman, but “it’s trying to offer services to the larger interchain that help enable it, help support it, [and] help it thrive and grow.” Source

Australian pilot CBDC test for eAUD to commence mid-2023: RBA White Paper

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Making it to the list of countries that intend to launch an in-house central bank digital currency (CBDC), the Reserve Bank of Australia (RBA) released a white paper outlining an elaborate plan for conducting a pilot project for eAUD. On Aug. 9, 2022, the RBA announced a collaboration with the Digital Finance Cooperative Research Centre (DFCRC) to explore CBDC use cases for Australia. The joint research resulted in the launch of a project to test a general-purpose pilot CBDC. As outlined in the ‘Australian CBDC Pilot for Digital Finance Innovation’…