Tether, a company that controls the same-name dollar-based cryptation, stated that it had completely excluded commercial securities from the security fund, the unsecured debt of private companies, which had been replaced by the U.S. Treasury.
In order to maintain a stable exchange rate, Tether's own company contains an inviolable reserve corresponding to the number of "monets" issued. Previously, in addition to money, it included various securities, including unsecured commercial bills. When the New York State Attorney's Office discovered this fact, the companies ordered the disposal of potentially risky assets and the replacement of them with more reliable papers.
The alternative was the U.S. Treasury Bill, which is quite user-friendly because it has the lowest maturity of existing U.S. state bonds, and it also runs both on the capital market and on the money market, and plans to restructure the reserve fund were announced by the company last summer.
Today, Tether's market capitalization is $68.5 billion, of which only Bitcoin and Ethereum are crypting.