Yesterday we tweeted about the concept of a top stablecoin depegging as a possible catalyst for a move lower. In retrospect it is easy to see why the Tweet may have been misinterpreted. Therefore we have removed it.
Tether is aware of rumours being spread that its commercial paper portfolio is 85% backed by Chinese or Asian commercial papers and being traded at a 30% discount. These rumours are completely false and likely spread to induce further panic in order to generate additional profits from an already stressed market.
Tether can report that its current portfolio of commercial paper has since been further reduced to 11 billion (from 20 billion at the end of Q1 2022), and will be 8.4 billion by end June 2022. This will gradually decrease to zero without any incurrences of losses. All commercial papers are expiring and will be rolled into US Treasuries with a short maturity.
Tether has currently zero exposure to Celsius apart from a small investment made out of Tether equity in the company.
Tether is aware of other rumours being spread, suggesting that it has lending exposure to Three Arrows Capital - again this is categorically false.