“Currently both Tether and Circle [the company behind stablecoin USDC] hold commercial paper, and while I think it unlikely that either would have large swaths of Evergrande bonds, the whole market will reel a bit,” Adam Cochran, a partner with Cinneamhain Ventures, tweeted Tuesday. “Regardless of what commercial paper you hold, bonds and commercial paper would take a hit and some issuers may even fold.”
