Tether, the USDT issuer, is planning to introduce real-time reporting of its reserve asset data no later than 2024 (currently it is constantly updated but published only on a quarterly basis).
The funds' latest estimate dates back to Q2 2023 and placed Tether's reserves at an excess of $3.3 billion.
The report will contain the following information:
- quantity of USDT in circulation
- composition of reserves between liquidity, securities, and digital assets
- evaluation of reserves, Tether activities, including loans and investments;
A necessary step, explains the new CEO Paolo Arduino, to respond to all the community's concerns regarding Tether's transparency.
Fortunately, the company has always recorded positive data over the years (the latest data shows an increase of 850 million in reserves).
Furthermore, the data relating to indirect exposure to US Treasury securities, held in a monetary fund for a value of 72 billion dollars, is also important.
In conclusion, the reporting activity updated and visible in real time therefore marks a big step forward by Tether towards the guarantee of stability which will make users who own the stablecoin always informed and safer when using it.
Although it all seems very positive, it should be remembered that the report will still be published by Tether itself, so it will not be possible to independently verify the information provided.
If you liked the article, subscribe and leave a like to not miss the next updates
Here below some links if you'd like to support me:
Nexo and Nexo Card (Earn crypto at the highest rates, get 2% cashback on your purchases and receive 25$ when you register and deposit 100$)
https://nexo.com/ref/j6atsfddtw?src=android-link
Freecash (earn 20/100$ each month without cash investment)
Cointiply (earn 20/100$ each month without cash investment)
