PANews reported on March 21 that according to Cryptoslate, Tether continues to play an important role in the US Treasury market, ranking seventh among the largest buyers of US Treasuries in 2024. On March 20, Tether CEO Paolo Ardoino updated on the X platform, revealing that the company purchased $33.1 billion in US Treasuries in 2024. This figure exceeds the holdings of countries such as Canada, Taiwan, Mexico, Norway, Hong Kong, South Korea, Germany, and Saudi Arabia.

Despite reaching this milestone, Ardoino pointed out that the Cayman Islands leads the world with over $100 billion in purchases. Closely following are France, Luxembourg, Belgium, Singapore, and the United Kingdom. However, he clarified that the holdings in the Cayman Islands and Luxembourg include investments from multiple hedge funds, while Tether's assets belong to a single entity. Tether uses US Treasuries as the cornerstone of its reserve strategy to ensure the stability of its USDT stablecoin. According to Tether's latest quarterly reserve report in December 2024, the company holds a total of $94 billion in US Treasuries.