Cointime

Cointime

Download App
iOS & Android

Tether Has Transferred Part of Its Reserves to the Management of a Wall Street Firm

Validated Individual Expert

Journalists from The Wall Street Journal have turned their attention back to Tether. This time, journalists reported that $39 billion, which is invested in US T-bills and now represents a large part of the company’s reserves, will be managed by the financial services company Cantor Fitzgerald.

Cantor Fitzgerald is a financial services company that has been providing financial services since 1945. The company has sales departments in 30 countries around the world, employing about 12 thousand employees. Cantor Fitzgerald specializes in providing investment banking services.

According to an anonymous source in The Wall Street Journal, this is not the first time Tether has turned to Wall Street firms for help. Sources from the publication say that Tether has been transferring its reserves to financial companies since 2021 to make its reserve management more effective and transparent.

Journalists from Cointelegraph managed to get comments about the partnership between Tether and Cantor Fitzgerald:

“Tether has grown to be the most important player in the digital assets industry and is collaborating and regularly exploring new business opportunities with high-quality counterparties.”- a company representative told reporters.

US Treasury bills, worth $39 billion in its last report, make up the majority of the Tether’s total reserves. So, Tether has transferred about 58% of its assets into the hands of Cantor Fitzgerald. The transfer of a portfolio of assets to a financial company can be considered as another step for Tether to further user trust and business reliability.

Tether Reserves. Source: Tether

We have not found any more comments from Tether on social networks and on the official website. The technical director of Tether, Paolo Arduino, who usually actively comments on news related to the company, also did not react in any way to the publication of The Wall Street Journal.

We will continue our observations of the activities of Tether and its USDT stablecoin and inform you about the news!

Get the latest news here: Cointime channel — https://t.me/cointime_en

Tether USDt Tether USDt $1.00
-0.02%
Tether USDT
Comments

All Comments

Recommended for you

  • BTC Surpasses $80,000

    Market data shows that BTC has surpassed $80,000, currently priced at $80,071.38, with a 24-hour increase of 2.32%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $79,000

    Market data shows that BTC has surpassed $79,000, currently priced at $79,010.22, with a 24-hour increase of 0.98%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Iran's Foreign Ministry: The U.S. Responds to Iran's '14-Point Proposal'

    On May 4, local time on May 3, Iranian Foreign Ministry spokesman Baghaei stated that the U.S. has responded to Iran's '14-point proposal' through Pakistan, and Iran is currently reviewing this response. Baghaei pointed out that Iran proposed to reach an understanding on a complete cessation of hostilities within 30 days and to agree on its implementation, focusing on ending conflicts on all fronts, including Lebanon. Baghaei also mentioned that 'at this stage, there are no nuclear negotiations between the U.S. and Iran.' (Dongxin News Agency)

  • SpaceX IPO Approaches, Wall Street May Sell Billions in Tech Stocks to Reallocate Funds

    According to The Information, SpaceX is set to launch a large-scale initial public offering (IPO), prompting major funds on Wall Street to take action. Reports indicate that about a week ago, a private jet emblazoned with the SpaceX logo carried nearly 200 investors from large Wall Street funds to Texas for a multi-day roadshow hosted by SpaceX executives. Due to overwhelming subscription demand, there were even instances where the aircraft could not accommodate all interested investors. As the IPO of this company, which comprises Musk's rocket and AI businesses, approaches, Wall Street may be discussing which tech stocks to sell in order to free up funds for subscribing to SpaceX shares, which is expected to trigger a sell-off of billions in tech stocks.

  • ETH Falls Below $2300

    Market data shows that ETH has fallen below $2300, currently priced at $2299.76, with a 24-hour increase of 0.11%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Trump Suggests Possibility of Resuming Airstrikes on Iran

    On May 3, during an interview at an airport in Florida on the evening of May 2, U.S. President Trump stated that there is a possibility of the U.S. resuming airstrikes on Iran. Trump posted on social media that he would soon review Iran's latest proposal, but he 'cannot imagine' that the proposal 'would be acceptable,' threatening that Iran 'has not yet paid a sufficiently high price.' Earlier that day, before boarding Air Force One, Trump indicated that he would provide further details on Iran's latest proposal. Previously, reports indicated that Iran had submitted a proposal containing 14 points through Pakistan in response to the 9 proposals put forth by the U.S.

  • Berkshire Hathaway's Cash Reserves Surge to Record $397 Billion

    On May 2, it was reported that in the first quarter under CEO Greg Abel, Berkshire Hathaway's cash reserves soared to an all-time high of $397 billion. Although the company's cash reserves slightly decreased at the end of last year, they saw a significant increase in the first quarter, as the company net sold $8.1 billion in stocks during this period. (Jin Shi)

  • Berkshire Hathaway Releases Q1 Report

    On May 2, Berkshire Hathaway A (BRK.A.N) reported Q1 2026 revenue of $93.675 billion, up from $89.725 billion in the same period last year, exceeding market expectations of $89.274 billion. The net profit was $10.106 billion, compared to $4.603 billion in the same period last year, while market expectations were $11.762 billion. (Jin Shi)

  • U.S. Government: $40 Billion Earned from 10% Stake in Intel (INTC.US)

    On May 2, the U.S. government announced that its 10% stake in Intel (INTC.US) has generated $40 billion in earnings. (Dongxin News Agency)

  • BTC Falls Below $78,000

    Market data shows that BTC has fallen below $78,000, currently priced at $77,977.99, with a 24-hour increase of 1.9%. The market is experiencing significant volatility, so please ensure proper risk management.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company