Tether discloses full reserve breakdown for the first time
Tether Holdings Limited, the company behind the popular USDT stablecoin, released a full breakdown of its reserve composition on Thursday, offering more transparency about the composition of its assets.
More than three-quarters of Tether’s reserves are held in cash, cash equivalents and other short-term deposits and commercial paper as of March 31, 2021. Within this category, commercial paper accounts for 65.39%, fiduciary deposits 24.20%,cash 3.87%, reserve repo notes 3.6% and Treasury bills 2.94%.
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