Tether’s Assets Exceed $86B
Tether Holdings Limited published a financial report at the end of last week, confirming that their USDT reserves amounted to $3.29 billion as of August 25.
This is an $850 million increase from early August, and brings the total excess reserves to $3.3 billion. Additionally, the total amount of liabilities to investors is $82.8 billion, with assets under management of the company reaching a total of $86.1 billion.
This report reassures USDT holders that Tether is fully able to follow through with their obligations. USDT is based on 15 blockchains, with Solana leading with $1.57 billion worth of tokens, closely followed by Ethereum and Tron with $617 million and $353 million respectively.
Recently, the company also announced it will no longer be issuing stablecoins on the Omni, Kusama, and Bitcoin cash networks due to a lack of demand from investors.
Additionally, so-called ‘alternative tokens’ such as gold, the Mexican peso, the euro, and the Chinese yuan are also available.
