USDT News: Vivek Ramaswamy Backs Tether’s Strategy to Invest in U.S. Treasury Securities

In a recent development, Vivek Ramaswamy, the former head of DOGE, has thrown his weight behind Tether’s innovative approach to stabilizing its USDT stablecoin. By investing in U.S. Treasury securities, Tether aims to bolster the stability and liquidity of its digital currency. This strategic move not only benefits Tether but also supports the fiscal operations of the U.S. government by increasing the demand for government debt.

Vivek Ramaswamy Supports Tether’s US Treasury Strategy

The former head of DOGE, Vivek Ramaswamy, has expressed support for Tether’s strategy to invest in U.S. Treasury securities to back its USDT stablecoin reserves. Since 2023, Tether has strategically invested in these securities, ensuring stability and liquidity for its stablecoin. This approach also benefits the U.S. by boosting demand for government debt, thus supporting fiscal operations. Tether is now the seventh-largest holder of U.S. Treasuries. Other private entities, such as pension funds, insurance companies, mutual funds, and commercial banks, also actively invest in U.S. Treasury securities as part of their financial strategies.

Tether Seeks Big Four Audit After Years of Vagueness

Tether, the issuer of the world’s largest stablecoin, has announced that it is in talks with one of the Big Four auditing firms to conduct a full audit. This move comes after years of promising transparency but only providing quarterly attestations. Ardoino, Tether’s CTO, cited the changing regulatory environment and Trump’s support for crypto as reasons for the audit. The audit is part of Tether’s effort to prove that it actually backs the $140 billion worth of stablecoins it has issued, each supported by dollar-denominated assets.

Tether Preparing Audits for Upcoming US Stablecoin Regulation

Tether, the issuer of the world’s largest stablecoin, is preparing for audits mandated by upcoming stablecoin regulations. These audits are an absolute requirement for future cooperation with the US government. President Trump has alluded to his vision of stablecoins promoting dollar dominance. To achieve closer integration with the US government, Tether will need to agree to a third-party audit. According to Reuters, Tether is engaging with a Big Four accounting firm for this audit, but it didn’t specify which firm or the progress of the talks.