Tether, the company that issues the biggest USD-pegged stablecoin USDT, said that it condemns what it calls “false rumors” that its holdings include large amounts of Chinese commercial paper that supposedly trades at a discount. The company also distanced itself from Celsius (CEL) and Three Arrows Capital-related rumors.
In a statement published on Tether’s website on Wednesday, the company said it is “aware of rumours being spread that its commercial paper portfolio is 85% backed by Chinese or Asian commercial papers and being traded at a 30% discount.”
“These rumours are completely false and likely spread to induce further panic in order to generate additional profits from an already stressed market,” the company said, adding that it “condemns such attempts” at manipulating market prices.
Tether further pointed to its latest assurance opinion as proof of what its reserves consist of. According to the document, as of March 31, around 47% of USDT’s reserves were US Treasuries, while...
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