Bloomberg: Tether once held bonds issued by Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China

According to Bloomberg, citing documents released by the New York Attorney General, Tether had included bonds issued by the Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China in its stablecoin USDT reserves. The securities have maturities in 2020 or 2021. Tether also holds bonds issued by companies including Deutsche Bank, Barclays and ArcelorMittal SA, according to the filing. In October 2021, a Bloomberg investigation found that Tether's reserves actually included billions of dollars in short-term loans, borrowed by Chinese companies, and large loans to the encryption platform Celsius Network. At the time, Tether denied holding debt from troubled China Evergrande Group, but declined to say whether it held securities of other Chinese companies or issuers. Tether said in July 2022 that it did not hold any Chinese commercial paper at the time.