Part 6/16:
Livingston provides a detailed breakdown of Tether's balance sheet, emphasizing its impressive liquidity and risk mitigation strategies. With around $127 billion invested in ultra-short US Treasury securities (averaging less than 90 days to maturity), Tether maintains a profile akin to a sovereign wealth fund but with superior liquidity. These holdings generate over $6 billion annually in interest, funding operational costs and the expansion into Bitcoin and mining ventures.