$USDT = US Government Debt?
Tether is the issuer of the largest stablecoin USDT, which is pegged to the value of the US dollar at a ratio of 1:1.
The cryptocurrency is backed by US dollars and US Treasury bonds. Most of the assets are invested in US government bonds.
Tether holds assets worth about $86 billion to back its $83 billion stablecoin.
The majority of Tether's reserves, held in cash and cash equivalents, are US Treasury bills, which account for $72.6 billion.*
*As stated by Cantor Fitzgerald CEO Howard Lutnick in January 2024.
