> ## Content Index
> Fetch the complete content index at: https://pulpconversations.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Who's Holding UST?
- URL: https://pulpconversations.com/whos-holding-ust/
- Published: 2025-07-10T10:55:42.000Z
- Updated: 2026-08-25T23:28:52.000Z
- Description: Tether saves more US Dollars than India ...
- Author: Vinay Gupta
- Tags: Podcast, #Migrated-1787171093388, #Import 2026-08-19 16:25

Rankings are situational, contextual and typically arbitrary.

Most rankings are subjective ordinals.

Cardinal rankings are intra-category whereas most rankings are inter-category.

Check out Tether (USDT) clocking at # 18 top holder of US Treasuries based on the ranking *below*:

![](https://storage.ghost.io/c/67/42/67423e8e-d1c5-4288-976a-2d7a9b94e567/content/images/2026/08/1141031e-42ea-4759-9cfc-974bd8f0b677_409x3840.png)

## Extra Credit

![](https://storage.ghost.io/c/67/42/67423e8e-d1c5-4288-976a-2d7a9b94e567/content/images/2026/08/5e32fb5e-e8ed-4754-9201-6109231e5ce7_2092x1210.png)

Pulp Conversations: 2019-2025: Russia vs. Tether