Tether, the stablecoin giant, has released a new transparency report that confirms its tokens are over 100% backed. The report states that Tether has $86.1 billion in assets and $82.8 billion in liabilities, with the largest amount of USDT (~42.5 billion) circulating on Tron and a rivaling amount (~38.4 billion) trading on Ethereum. The company also has a 4% reserve surplus, which is generated using Tether’s profits from its reserve stash.The Federal Reserve’s hawkish monetary policy has allowed Tether to profit $1 billion in Q2 2023 alone. A stablecoin report published by Brevan Howard this week also found that Tether continues to dominate the stablecoin market, accounting for 75% of stablecoin transactions. The majority of non-speculative activity uses fiat-backed stablecoins, and stablecoins settled far more value last year ($11 trillion) than PayPal ($1.4 trillion), nearly matching Visa at $11.6 trillion.
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 10 |
| People | None |
| Companies | Tether, Tron, Ethereum, Solana, BDO Italia, Brevan Howard, PayPal, Visa, Binance, PrimeXBT |
| Currencies | USD, USDT, Bitcoin, Ethereum, Tron |
| Securities | None |
