Tether Reports $3.2 Billion of Excess Reserves Backing Stablecoins in Q3 Attestation

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Cointime2023/10/31 16:57

By:Cointime

Tether's Q3 attestation, verified by BDO Italy, revealed that the stablecoin has $3.2 billion in excess reserves supporting its value, including $72.6 billion in exposure to U.S. Treasuries. The attestation also disclosed $86.4 billion in assets in reserves as of September 30, with $83.2 billion in liabilities. Tether's CEO, Paolo Ardoino, has promised to introduce real-time data about reserves in the future, as the company aims to reduce its secured loans to zero by 2023. The company's USDT stablecoin remains the most popular, with an $84 billion market capitalization.

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