Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => USDT Forum => Topic started by: Galaxy on April 01, 2021, 02:05:00 PM
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Tether claims its coins are backed by reserves worth over $35 billion, but hasn’t said exactly what it’s invested in.
Yesterday, stablecoin issuer Tether released an attestation regarding its reserves—the amount of assets that “back” each coin.
It’s the first such attestation from Tether in years, and it hasn’t exactly reassured the skeptics.
According to the document—which consists of Tether’s own report, plus a statement from a small Cayman Islands accounting firm called Moore Cayman—as of February 28, Tether had around $35.3 billion in assets and $35.2 billion in liabilities. $35.1 billion of those liabilities “relate[d] to digital tokens issued,” which is to say they were backing the Tethers in circulation at that time.
Source: https://decrypt.co/63577/tether-attestation-takeaways