💰 Tether's asset reserves increased to the highest level ever
Tether, the company that issues the stablecoin USDT, has posted its latest asset attestation report, showing that the ratio of cash reserves and cash equivalent assets has increased to an all-time high with a value of 86.3 billion USD.
Tether holds 86.3 billion USD in assets, guaranteeing 83.1 billion USDT issued to the market. However, according to actual data, USDT's market capitalization has reached 84.8 billion USD - the highest threshold in history.
Among them, the largest proportion is still US Treasury bonds (t-bill), with a value of 56.6 billion USD. Tether's cash reserves and bank deposits have increased from $90 million three months ago to $292 million.
This is the first time in history that Tether has reached such a high number. Tether had a quieter third quarter of 2023 than the previous half year. With its current position, USDT accounts for more than 67% of the stablecoin market share of the market.
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