USDT Stablecoin (USDT), an issuer of USDT Stablecoin, reported that it reduced its reserve allocation for commercial paper investments and raised the amount of United States Treasury Bills over the first quarter 2022.

Tether was the subject of Thursday’s blog post. reported its reserves were “fully backed,” seemingly in an effort to assuage many users’ fears around USDT briefly Depegging starting at the DollarOn May 12, According to the stablecoin issuer, its commercial paper holdings over Q1 2022 decreased 17% from roughly $24 billion to $20 billion, with an additional 20% reduction to be reflected in the firm’s next quarterly report. Tether’s investments in U.S. Treasury bills and money market funds increased by 13%, to $34.5 billion to $39billion respectively.