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Tether, the issuer of the USDT stablecoin, has released its Q3, 2023 attestation report. It shows the company’s cash and cash equivalents increased to 85.7% of reserves, with $72.6 billion in US T-Bills. Tether holds $1.7 billion in BTC and $3.1 billion in gold. Tether has released its attestation report for Q3, 2023 that shows the USDT stablecoin issuer’s cash and cash equivalent reserves have risen to its highest ever percentage share of total reserves. Per the report published Tuesday, cash and cash equivalents stood at 85.7% as of September 30 this year. Of this, the largest percentage was in US T-Bills at $72.6 billion – which were in both direct and indirect exposure. Tether also reported a significant reduction in its secured loans, with this at more than $330 million. “We’ve achieved the highest ever percentage of our reserves held in Cash and Cash Equivalents, signaling our dedication to maintaining liquidity and st...

Tether says Paolo Ardoino will officially take up the CEO role from December 2023. Ardoino will continue as Bitfinex CTO and chief strategy officer for Holepunch. Meanwhile, exiting CEO Jean-Louis van der Velde, becomes an advisor and remains CEO of Bitfinex. Tether news just in is that the company’s Chief Technology Officer Paolo Ardoino has been appointed as the new CEO, with the new role effective as from December 2023. Ardoino will continue as Bitfinex CTO and Chief Strategy Officer for Holepunch. Meanwhile, current CEO, Jean-Louis van der Velde, will “transition to an advisory role for Tether while retaining his position as CEO of Bitfinex.” New CEO to lead Tether into new growth chapter Changes at the management level for the stablecoin issuer comes as the company looks to diversify into new verticals. One of the signals for this shift to a technology-focus approach was highlighted by the recent mega investment in Northern Data Group...