Despite previously fining Tether for misleading claims about its reserves, Washington now sees the stablecoin issuer's substantial holdings of U.S. government debt as a key reason to support its global expansion. According to a Bloomberg report on September 23, the Trump administration is considering an overseas stablecoin initiative, potentially involving private companies, to extend dollar use and boost demand for Treasuries. Tether, which reported holding $114.96 billion in directly held U.S. Treasury bills as of the end of June, is central to this appeal, making it a leading private distributor of digital dollars and a major customer for short-term American debt.