Tether becomes 7th largest US Treasury holder, investing in Treasurys for stablecoin backing

From Coin Telegraph

March 20, 2025 9:02:09 AM:

Tether, the $143 billion stablecoin giant, became the world’s seventh-largest buyer of US Treasurys, surpassing countries like Canada, Taiwan, and Mexico. Tether acquired over $33.1 billion worth of Treasurys, investing as additional backing assets for its US dollar-pegged stablecoin. The stablecoin’s growth coincides with increasing adoption among investors and lawmakers.

Legislation for stablecoins and cryptocurrency market structure may pass by August, according to Kristin Smith, CEO of the Blockchain Association. This timeline aligns with forecasts from other industry experts, indicating progress on comprehensive stablecoin legislation. Smith expressed optimism about bipartisan support and coordination between relevant committees in Congress.

Read more at cointelegraph.com: Tether’s US treasury holdings surpass Canada, Taiwan, ranks 7th globally