During a recent Twitter Spaces event discussing stablecoins and the recent crypto volatility, Tether CTO Paolo Ardoino said that the stablecoin provider had cut the amount of commercial paper backing its stablecoin by half. Ardoino is also the CTO of crypto exchange Bitfinex. "In the last six months, [Tether has] reduced 50% the size of the commercial papers (sic). Everything that was reduced from the commercial paper was rolled into U.S. Treasuries," he said. "In the next few weeks, we will have the new attestation that will show that these commercial papers are being further reduced." Commercial paper is a type of ... (full story)