Tether Says USDT Stablecoin Now Backed by T-Bills

Tether reports it has eliminated commercial paper from its stablecoin reserves, ending a years-long relationship with the investment vehicle that had partially backed its crypto. The issuer said Thursday it has replaced the paper with US Treasury Bills — short-term government-issued debt securities — as part of ongoing efforts to increase transparency. Tether also said the move would help shore up trust in its stablecoin (USDT) while demonstrating its commitment to backing its tokens with more secure assets. Those include cash and equivalents, loans, corporate bonds and digital assets, among others.