Tether Moves Towards Transparency After Years of Suspicions

As a move toward improving transparency regarding the composition of its assets, Tether Holding company has released a detailed and comprehensive breakdown of its reserves. This is the first time the company has publicly shared a detailed breakdown of its reserves and assets.

The firm also expressed its interest in having this information publicly available to foster better relations and accountability.

The company came to the limelight due to its USDT tether, which quickly gained popularity. It posed less risk of being affected by the fluctuation of prices which is common when dealing with cryptocurrencies. Transferring BTC into Tether is also easier and faster than to the US dollar.

Tether Holding categorized its reserves into cash, short-term deposits, commercial paper, and cash equivalents. A majority of assets are in cash and cash equivalents. The breakdown is as follows: Fiduciary deposits made for 24.2 percent of their assets, Commercial paper 65.39 percent, Cash at 3.87 percent, Reverse repo notes at 3.60 percent and treasury bills at 2.94 percent.

The company, which has been growing steadily, has assets estimated at $50 billion and recently minted its 50 billionth USDT token. They have also passed numerous quality assurance tests, such as those from Moore Cayman.

Total
0
Shares
Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
Related Posts