Tether and its peers accounted for 2 percent of the market for Treasury bills as of May, according to research from JPMorgan, more than the proportion owned by Warren Buffett’s investment behemoth Berkshire Hathaway. JPMorgan said the newer issuers had “considerable room to grow should stablecoins become a form of digital payment”.
| less than a minute read
Stablecoin issuers hold $80b of short-dated US government debt
Janet Yellen, US Treasury secretary, said the collapse of TerraUSD was an event that “simply illustrates that this is a rapidly growing product and there are rapidly growing risks”.
