Tether publishes the reserves for the first time
Tether publishes the reserves for the first time
- Tether published his reserves of the reserves for the first time.
- According to the report, 76% of the company's reserves are kept in cash and means of payment, short -term deposits and commercial papers
Tether, a stable coin material, has released his reserves for the first time in seven years. According to the , dismantle dated March 31, 2021, almost 76% of the company's reserves are kept in cash and payment -equivalent, short -term deposits and commercial papers.
Etherther publishes information about the composition of his reserves that support tether-tokens https://t.co/lp72raudtz
- tether (@ther_to) 13. May 2021
In the category cash and payment -means equivalents, Commercial Papers made a share of 65%. In the same category, the trust share was 24%, the treasure change was a share of 3%, the reverse repo debt bonds a share of 3.6%and the actual liquid funds 3.87%.
Stuart Hoegner, the General Counsel von Tether, explained in his explanation why the actual cash shares make up a lower proportion that it is misleading in the category of cash and cash equivalent.
readers should not confuse articles that are not included in "actual cash".
The remaining reserves were divided into different categories, including secured loans, corporate bonds, precious metals and other systems. Safe loans made up 12.55% of the total reserves, corporate bonds, funds and precious metals made up 10% of the reserves, and the other category that includes digital tokens was 1.64%. in another explanation, Hoegner revealed that secured loans are issued by Tether, and the mention of digital tokens only refers to Bitcoin. We have seen that BTC is an important part of the balance sheets of several large companies on both public and private market. This serves to diversify the risk. The on-chain volume of Tether recently reached the record of $ 1 trillion a year for the first time. This is the first time that Tether has reached this brand. Tethers Usdt was created to be supported by the US dollar in a ratio of $ 1: 1. However, this was changed in 2019 when it was published on the official website that all the tokens issued by Tether are fully covered by the tether reserves. A transparency side was created along this line that contains information on the assets and liabilities measured in gold and three other currencies. recently Tether was punished in an agreement with the New York general prosecutor with a fine of $ 18.5 million. The publication of the company's provisions is part of the comparison. Tether suggested that the reserves of the reserves as part of our comparison agreement with the New York General Prosecutor's office continuously publish, and we have undertaken to make this information open to the general prosecutor and the public. According to Hoegner, publication stands for your efforts to promote transparency and to set a standard for the crypto industry. on the way to transparency
Source: Crypto-news-flash.com
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