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Stablecoin Issuer Tether Cuts Commercial Paper Holdings to Zero

Summary by Ground News
Stablecoin issuer Tether has revealed that it now holds zero commercial paper. The development comes less than two weeks after the company announced that it had reduced its commercial paper exposure to less than $50 million. The company said the move is part of its effort to increase transparency and back its stablecoins with more secure and liquid reserves.

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Coin Desk broke the news in Manila, Philippines on Thursday, October 13, 2022.
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