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The chief executive of stablecoin issuer Tether says that it is now one of the largest holders of US Treasuries in the world, noting that stablecoins will grant hundreds of millions of people access to the US dollar. In a new interview with CNBC Television, Tether CEO Paolo Ardoino says that if the firm were a nation of its own, it would be the 18th-largest holder of US Treasuries in the world. “Well, Tether in 2024 was the fifth-largest purchaser of US treasuries. And if we were a country, right, I mean, we compare ourselves to countries now, and as an overall statistic, Tether is the 18th-largest holder of US treasuries. We have around $125 billion in US treasuries. We are acquiring, that portion of our reserve is increasing… We think the trajectory is also in line with the GENIUS Act so we are very excited to see a stablecoin bill that provides clear guidance.” US Treasuries are debt obligations backed by the US Department of the Treasury that vary...

Stablecoin issuer Tether (USDT) is reportedly looking to return to the US with a new dollar-pegged digital asset. According to a new report by CNBC, the world’s largest stablecoin issuer is looking to launch a new crypto asset pegged to the US dollar by the end of the year as its chief executive continues to influence national crypto policies. News of the new stablecoins was confirmed by Tether CEO Paolo Ardoino in an interview with CNBC. According to Ardoino, Tether – which is headquartered in El Salvador – is attempting to rebrand itself as being cooperative with law enforcement, as it was previously known as the “go-to” crypto for criminal activity. The report says that Ardoino may have helped shape key legislation, such as the GENIUS Act – a bill that aims to give clear guidelines for stablecoins – and added provisions for Tether to help law enforcement. As stated by Ardoino, according to CNBC, “There is no company… even in the tradi...