I can only see the title because I don't have FT subscription but I'm thankful for FT shielding me from more bad news. Ignorance is bliss ;)

Thanks for sharing, that's news to me. They seem to have surpassed Germany as US treasury bond holder [1] but recently stopped buying bonds [2].

Do you have any information which geopolitical actor controls tether? Is it China or Russia trying to circumvent SEPA? Or North Korea because north korean hackers have so much bitcoin from their ransomware operations?

[1] https://cointelegraph.com/news/tether-us-treasury-holdings-s... [2] https://yellow.com/news/stablecoin-giant-tether-slashes-trea...