PANews reported on July 9 that according to CryptoSlate, the four issuers of US dollar stablecoins hold about $182 billion in US Treasury bonds, ranking 17th according to the US Treasury's national ranking. Including overnight Treasury bond collateral repurchases and money market fund holdings with heavy Treasury bonds, the scale is between Norway (US$195.9 billion) and Saudi Arabia (US$133.8 billion). Among them, Tether's USDT ranks first, holding US$120 billion in Treasury bonds in the first quarter, and increased to more than US$125 billion in late May; Circle provides USDC with US$55.2 billion in reserves, including US$28.7 billion in Treasury bonds and US$26.5 billion in repurchase agreements; First Digital's FDUSD reserves include US$1.3 billion in Treasury bonds; Paxos' PYUSD reserves are reverse repurchase agreements with Treasury bonds, corresponding to about US$880 million in government debt. According to the US Treasury Department's April data, the total holdings of the four companies reached US$182.4 billion, surpassing South Korea and the UAE, and second only to Norway.