US Treasury Notes Make Up More Than 58% of Tether's Reserves, said Tether CTO

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U.S. Treasury bills make up more than 58% of Tether Holdings Limited's reserves, according to Paolo Ardoino, the company's chief technical officer, who spoke about this on Monday.
The move comes after Tether hired BDO Italia as its accounting firm and after the stablecoin issuer's quarterly attestation revealed a decline in its holdings of commercial paper.

Tether's holdings of commercial paper decreased to less than $50 million.

The CTO of Tether claims that a sizable portion of the company's USDT reserves are held in US Treasuries. On Monday, Tether's CTO Paolo Ardoino tweeted about an upgrade to the company's portfolio.
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