Source: Adobe / dennizn
Tether, the issuer of the most popular stablecoin, Tether (USDT), presented its breakdown of reserves for the first time.
According to the company, as of March 31, nearly 76% of its reserves consisted of cash, cash, cash equivalents, and other short-term deposits and commercial paper. The share of cash in this category is less than 4%.
Breakdown of reserves, March 31st
- Cash and cash equivalents as well as other short-term deposits and commercial paper (75.85%)
– Commercial paper (65.39%)
– Trust deposits (24.20%)
– cash (3.87%)
– Reverse repo notes (3.60%)
– Treasury bills (2.94%)
- Secured loans (none to affiliated companies) (12.55%)
- Corporate bonds, funds and precious metals (9.96%)
- Other investments (including digital tokens) (1.64%)
As reported in April, Tether’s consolidated total assets were at least $ 41,017,565,708 as of March 31, according to an independent accountant, Moore Cayman, while liabilities were lower, of which “$ 40,855,204,950 is digital tokens issued” .
USDT’s market cap reached nearly $ 58.5 billion today.
Tether has been required by the New York Attorney General (AOG) to disclose how Tethers are secured. According to the Office, Tether must offer disclosure of assets supporting Tethers by category, including disclosure of loans or claims to or from affiliates.
In the meantime, as reported today, there appears to be regulatory conflict for stablecoin, and experts believe that tokens with fiat pegging could fall under the control of fiscal policy.
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