Tether became a notable net buyer of US Treasuries in 2024, purchasing about $33.1 billion, according to Techub, which cited CryptoBriefing. The report placed that figure against a backdrop of US federal debt topping $39 trillion and a broader pullback by foreign investors from the Treasury market. Tether’s reserves are described as being backed mainly by short-term US government debt, making its Treasury purchases closely tied to global adoption of USDT.
The report said this points to a structural shift in demand for US assets. As traditional foreign buyers reduce exposure, Tether’s reserve model is supplying demand for Treasuries through the growth of a dollar-backed stablecoin. That also tightens the connection between crypto money markets and the traditional financial system, as demand generated by USDT circulation feeds into holdings of short-dated government paper.
Tether was a major net buyer of US Treasuries in 2024, purchasing about $33.1 billion, according to Techub, citing CryptoBriefing.
The report said the buying came as US federal debt rose past $39 trillion and foreign investors steadily cut back their Treasury holdings. Tether’s reserve assets are backed mainly by short-term US government debt.
CryptoBriefing said the shift reflects a structural change in global demand for US assets. Tether’s Treasury purchases are directly linked to global adoption of USDT. As traditional foreign buyers retreat, that reserve mechanism provides support for Treasury demand while tying crypto money markets more closely to the traditional financial system.
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