Tether reveals the full breakdown of its bookings for the first time

Tether Holdings Limited, the company behind the popular USDT stablecoin, released a full breakdown of the composition of its reserves on Thursday, offering more transparency about the structure of its assets.

  • Tether will report its reservations and pay a fine of $ 18.5 million following the agreement with the NYAG

More than three-quarters of Tether’s reserves are they keep in cash, cash equivalents and other short-term deposits and commercial documents as of March 31, 2021. Within this category, commercial paper represents 65.39%, trust deposits 24.20%, cash 3.87%, reserve replacement notes 3.6% and Treasury bills 2 , 94%.

Breakdown of Tether’s reserves, shows a large concentration of assets in cash and cash equivalents. Chart via Tether Holdings.

Beyond this category, secured loans represented 12.55% of Tether’s bookings. Corporate bonds, funds and precious metals accounted for 9.96% and “other investments”, including digital tokens, were 1.64%.

  • Tether reservations are fully backed, according to the latest warranty report

“Today’s post reflects our continued dedication to making this information public as part of our ongoing commitment to transparency and standard setting in our industry.”the company said.

Tether has been submitting regular reports on the status of its reserves since it reached an agreement with the New York Attorney General’s Office in February.. However, the latest disclosure was the first time Tether provided a full breakdown of its assets. As Cointelegraph recently reported, Tether has already passed multiple collateral tests from Moore Cayman, an accounting network based in the Cayman Islands, which has confirmed that the company’s consolidated assets exceed its liabilities.

  • Tether’s Market Cap Reaches $ 50 Billion As Stablecoin Adoption Grows

The stablecoin issuer reached a major milestone late last month after minting its $ 50 billion USDT token.. Being a stablecoin backed by US dollars, this means that the assets of the company exceed $ 50 billion.

USDT’s market capitalization now stands at about $ 57.8 billion, according Coingecko. For comparison, Tether’s market capitalization first reached $ 40 billion at the end of March.

Keep reading:

  • Tether will report its reservations and pay a fine of $ 18.5 million following the agreement with the NYAG
  • Tether reservations are fully backed, according to the latest warranty report
  • Tether’s Market Cap Reaches $ 50 Billion As Stablecoin Adoption Grows
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  • Bitwise launches a “cryptocurrency ETF” in the United States … sort of
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Tether reveals the full breakdown of its bookings for the first time

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