Tether plans to reduce commercial debt holdings in its reserve, goes live on Kusama

The leading stablecoin issuer, Tether, is looking to further reduce its commercial debt holdings, according to Tether and Bitfinex CTO Paolo Ardonio. 
“Over time, we will keep reducing the commercial paper, we aren’t finished yet with the reduction.”
Ardonio told CryptoSlate during an interview at the Paris Blockchain Week on April 14.
In its attestation for the last quarter of 2021, Tether claimed that it had reduced the commercial paper in its reserves by more than 20%. It has now doubled down on its efforts to lower its reserves allocation to commercial paper.
Commercial papers are short-term unsecured debts and, as of May 2021, accounted for 65.39% of the Tether reserve. But there were serious concerns about the security of these commercial papers, especially with the Evergrande crisis last year.
Tether reducing commercial paper holdings
Although Tether claimed it wasn’t holding commercial paper from Evergrande, many were still worried because the crypto firm failed to re

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