Deutsch한국어 日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçe
Portfolio TrackerSwapCryptocurrenciesPricingIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio Tracker24h ReportPress KitAPI Docs

Cantor Fitzgerald Supposedly Oversees $39 Billion Of Tether’s Reserves

2y ago
bullish:

0

bearish:

0

Cantor Fitzgerald Supposedly Oversees 39 Billion

Key Points:

  • Stablecoin issuer Tether (USDT) uses Cantor Fitzgerald to oversee its $39 billion bond portfolio.
  • Due to its role as the primary dealer for U.S. Treasury securities, Cantor Fitzgerald is one of the few companies that conducts direct business with the American Federal Reserve.
Wall Street Journal report from February 10, stablecoin issuer Tether (USDT) uses Cantor Fitzgerald to oversee its $39 billion bond portfolio.
Cantor Fitzgerald Supposedly Oversees 39 Billion Of Tethers Reserves

The stablecoin issuer reportedly started working with Cantor Fitzgerald in 2021 after coming to an agreement with a financial regulator over the management of its reserves.

The portfolio demonstrated that Wall Street companies would be open to working with cryptocurrency companies despite the industry’s legal unpredictability.

Tether has never made audited financials available

Cantor Fitzgerald Supposedly Oversees 39 Billion Of Tethers Reserves 1

One of the settlements required IBM to start providing more details about its assets. After making $700 million in earnings in the fourth quarter, the corporation said it ended 2022 with $67 billion in reserves backing the $66.1 billion tether issued. This was according to the most current statistics the company had released.

The corporation reported reducing its loan exposure, getting rid of all of its commercial paper, and holding $39.2 billion in Treasury bonds, which made up 59% of its portfolio. The company’s remaining assets included billions of dollars kept in cash, precious metals, reverse repurchase agreements, money market funds, and corporate bonds.

Due to its role as the primary dealer for U.S. Treasury securities, Cantor Fitzgerald is one of the few companies that conducts direct business with the American Federal Reserve.

Tether stated earlier this week that as of December 31, it had assets totaling $67.04 billion, $39.2 billion of which were U.S. Treasury bills. Money market funds, cash, corporate bonds, precious metals, and other goods served as its other asset holdings.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

2y ago
bullish:

0

bearish:

0

Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.