Unbelievable! Tether Surpasses Nations in U.S. Treasury Purchases! 😲💰

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Ah, Tether! The enigmatic issuer of USDT, has ascended to the lofty heights of financial prowess, ranking as the seventh-largest buyer of U.S. Treasury securities in the year of our Lord, 2024. Who would have thought that a mere digital currency could outpace the likes of Canada and Mexico? Truly, the world is a stage, and Tether is playing the lead role in this grand drama of finance!

In a rather audacious proclamation on the 20th of March, the illustrious Paolo Ardoino, Tether’s chief executive officer, revealed that Tether had purchased a staggering net of $33.1 billion in U.S. Treasuries last year. This feat placed it ahead of venerable nations such as Germany, Canada, and Mexico. One can only imagine the bewilderment of these countries, scratching their heads in disbelief as they watch a digital currency outmaneuver them in the financial arena. 😂

But wait, there’s more! As of the 21st of March, USDT reigns supreme in the stablecoin market, commanding a remarkable 62.45% of the $230 billion total supply, according to the ever-reliable DeFiLlama data. With a market capitalization soaring to $143 billion, it is nearly three times the size of its rival, Circle’s USD Coin (USDC), which languishes at a mere $59 billion. Oh, the sweet taste of victory! 🍾

Last year, Tether’s financial fortitude was laid bare when it reported a record net profit of $13 billion, all while navigating the treacherous waters of regulatory setbacks in Europe. In a display of sheer audacity, the company issued 23 billion USDT in the fourth quarter alone, contributing to a total issuance of 45 billion USDT in 2024. One must wonder, is this a financial institution or a magician pulling rabbits out of hats? 🎩✨

Yet, as with all great tales, there lurks a shadow. Tether may face challenges in the U.S., despite its burgeoning acquisition of U.S. Treasuries. A proposed stablecoin bill threatens to limit offshore issuers from accessing the U.S. Treasury markets. Meanwhile, U.S.-based competitors like USDC may find themselves basking in the sunlight of opportunity, while Tether grapples with the looming specter of regulation. Nevertheless, Ardoino remains steadfast in his optimism regarding Tether’s role in the U.S. Treasury market. A true believer, indeed! 🙏

During a rather spirited event on the 11th of March, hosted by the Bitcoin Policy Institute, Ardoino passionately argued that Tether’s investments not only strengthen but also diversify the U.S. debt markets. “We’ve done more for financial inclusion than anyone else,” he proclaimed with fervor. “And while doing that, we’re buying back U.S. debt. If we were a country, we’d be the 18th largest holder of U.S. Treasuries.” Such grandiosity! One can almost hear the applause echoing in the halls of finance. 👏

Meanwhile, in the corridors of power, U.S. President Donald Trump and Treasury Secretary Scott Bessent continue their relentless pursuit of stablecoin-friendly policies, emphasizing their pivotal role in maintaining the dollar’s global dominance. In a virtual speech on the 20th of March at Blockworks’ Digital Asset Summit, Trump urged Congress to pass clear, common-sense regulations to encourage institutional adoption. Ah, the sweet symphony of politics and finance, a duet that never ceases to amuse! 🎶

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2025-03-21 11:16