The share of cash and cash equivalents in USDT stablecoin reserves reached 85.7%. This follows from report Tether company for the third quarter of 2023.
According to the press release, the audit was carried out by BDO. Tether publishes similar reports on a regular basis.
The majority of reserves are in cash and cash equivalents (mainly US Treasury bonds) – $72.6 billion. The share of these assets is 85.7%, according to the report.
The company also reported a reduction in secured loans in USDT reserves by $330 million. This, according to management, is evidence of effective fund management.
During the third quarter, Tether received a profit from investments amounting to $1 billion. $670 million were reinvested. Since the beginning of 2023, the company has allocated $800 million to finance various projects.
The excess reserve remained “unchanged.” The total amount of consolidated assets is $86.3 billion, liabilities are $83.1 billion.
Source: Cryptocurrency
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