Tether to become top 10 holder of US Treasurys this year, says USAT CEO

Bo Hines, CEO of Tether USAT and former chairman of the U.S. President's Council of Advisors for Digital Assets, stated that Tether is on track to become one of the top 10 holders of U.S. Treasurys this year. According to The Block, Hines said the company plans to significantly expand its purchases of U.S. Treasurys, driven by growing demand for USDT and USAT. This expansion, he noted, would place Tether's holdings among the world's top 10 by the end of the year. He added that Tether currently holds $122 billion in U.S. Treasurys, already ranking it within the top 20. USAT is a stablecoin that complies with the U.S. dollar stablecoin regulation act (GENIUS).