Tether, the company behind the USDT stablecoin, has become one of the top 10 buyers of U.S. Treasuries over the past two years, according to the provided data. The statement says Tether purchased more Treasuries than Taiwan, Israel, and the United Arab Emirates. The detail is notable because U.S. Treasury holdings are a core reserve asset for large stablecoin issuers, helping support token redemptions and liquidity management.