Tether CEO: Tether has 106% reserve support

Tether CEO Paolo Ardoino stated at Token2049 that Tether has 106% reserve support and excess liquidity holdings. China had approximately $3 trillion in US debt 2-3 years ago, but now holds about $700 billion. Tether's holdings of US Treasury bonds represent 12-13% of China's current holdings. Tether has quickly become one of the largest holders of US debt.