Stablecoin issuer Tether (USDT) has revealed a breakdown of its reserves for the first time since 2014, according to The Block.
As of March 31, 2021, almost 76% of Tether’s reserves were held in cash or cash equivalents. The remaining quarter was held in secured loans, bonds, and other investments that include Bitcoin.
Tether’s reserves as of March 31, 2021. Image: Tether
In the cash and cash equivalents category, commercial paper held the biggest share with 65%. This was followed by fiduciary deposits, which formed almost 25% of the category.
Tether’s general counsel, Stuart Hoegner, said it is “misleading to focus exclusively on cash,” adding, “Readers should not confuse items not in ‘actual cash’ with a lack of liquidity.”
What about Bitcoin?
As for the other 25% of reserves, 1.64% of this was comprised of “digital tokens,” which, per Hoegner, refers strictly to Bitcoin.
“We have seen Bitcoin become an important component of the balance sheets of several large corporations in both t
Źródło: https://decrypt.co/70732/tether-reveals-reserves-breakdown-for-the-first-time-since-2014
