Tether cuts USDT collateral in commercial securities

The USDT stablecoin issuer, Tether Holdings Limited, reduced its reserves in commercial securities by 17% in the first quarter of 2022. By the end of the second quarter, the company intends to reduce the amount of collateral in these assets by another 20%.

The Tether’s commercial paper reserves fell from $24.2 billion to $20.1 billion in three months of 2022, according to an audit report by MHA Cayman. Tether’s total assets are over $82.42 billion as of March 31.