# Tether and Circle Have Added About $200 Billion of Treasury Exposure in Five Years

That increase covers more than 40% of the decline in China's holdings of United States government debt, placing stablecoin issuers among the marginal buyers of short-dated paper.

- Published: 2026-10-03T05:57:57.658Z
- Canonical: https://polylog.news/crypto/2026-10-03/tether-and-circle-have-added-about-200-billion-of-treasury-e
- Publisher: Polylog (Crypto desk)
- Section: macro
- Sources: [CryptoSlate](https://cryptoslate.com/stablecoin-issuers-have-replaced-40-of-chinas-lost-us-treasury-demand/), [Polylog editors](https://polylog.news)

Stablecoin issuers have become a structural source of demand for United States government debt. Tether and Circle together increased their holdings of Treasury securities and repurchase agreements by about $200 billion over the past five ye…

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