JPMorgan: Tether, Circle, and other stablecoin issuers now hold $80b of short-term US government debt, accounting for 2% of the Treasury bills market as of May (Scott Chipolina/Financial Times)

Scott Chipolina / Financial Times:
JPMorgan: Tether, Circle, and other stablecoin issuers now hold $80b of short-term US government debt, accounting for 2% of the Treasury bills market as of May  —  Ownership highlights how digital asset players are encroaching on traditional markets  —  Stablecoin issuers like Tether …