Tether Holdings Ltd., the company behind the popular cryptocurrency stablecoin USDT, has listed securities issued by Chinese state-owned banks to support its USDT reserves. This information has come to light through documents released by New York prosecutors, as reported by Bloomberg.
According to the documents, Tether Holdings has included securities from prominent Chinese banks, including Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China, as part of its backing for the USDT stablecoin.
In addition to Chinese banks, Tether Holdings has also invested in securities issued by renowned companies such as Deutsche Bank, Barclays, and ArcelorMittal SA. By including securities from various banks and corporations.