{"id":47435,"date":"2021-08-09T20:20:14","date_gmt":"2021-08-09T17:20:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47435"},"modified":"2025-09-01T21:21:45","modified_gmt":"2025-09-01T18:21:45","slug":"report-nearly-50-of-usdt-backing-by-tether-consists-of-commercial-paper","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/report-nearly-50-of-usdt-backing-by-tether-consists-of-commercial-paper\/","title":{"rendered":"Report: Nearly 50% of USDT backing by Tether consists of commercial paper"},"content":{"rendered":"<p>As of July 30, 2021, the stablecoin USDT was 100% backed by reserves of Tether Holdings Limited, Moore Cayman confirmed in a new report.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Tether has always been fully backed and the assurance opinion made available today confirms it once again, and puts Tether ahead of the industry on transparency.<a href=\"https:\/\/t.co\/2CLZTLXNjb\">https:\/\/t.co\/2CLZTLXNjb<\/a><\/p>\n<p>\u2014 Tether (@Tether_to) <a href=\"https:\/\/twitter.com\/Tether_to\/status\/1424703057926008834?ref_src=twsrc%5Etfw\">August 9, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The value of the firm&#8217;s assets exceeded $62.7 billion, with a circulating supply of 62.6 billion coins at the time of the audit.<\/p>\n<p>Moreover, 49% of the reserves consisted of corporate debt securities worth $30.8 billion. The average maturity of corporate debt obligations is 150 days.<\/p>\n<p>The share of cash and bank deposits that can be withdrawn within two days or less accounted for 10% of the backing \u2014 approximately $6.28 billion.<\/p>\n<p>A substantial portion of the reserves consisted of U.S. Treasury notes with maturities of less than 90 days. They accounted for more than 22.5% of the total value, or about $15.3 billion.<\/p>\n<p>In March 2021, Moore Cayman for the first time provided <a href=\"https:\/\/u1f987.com\/en\/news\/independent-auditor-confirms-tether-reserves-fully-back-usdt\">a conclusion of full backing<\/a> of the stablecoin by the issuer&#8217;s reserves.<\/p>\n<p>VanEck digital assets strategist Gabor Gurbacs <a href=\"https:\/\/twitter.com\/gaborgurbacs\/status\/1424711633272807426\">\u043e\u0442\u043c\u0435\u0442\u0438\u043b<\/a>, \u0447\u0442\u043e \u0432 \u043f\u043e\u0441\u043b\u0435\u0434\u043d\u0435\u043c \u0430\u0443\u0434\u0438\u0442\u043e\u0440\u0441\u043a\u043e\u043c \u043e\u0442\u0447\u0435\u0442\u0435 \u0432\u043f\u0435\u0440\u0432\u044b\u0435 \u0434\u0430\u043d\u0430 \u043f\u043e\u0434\u0440\u043e\u0431\u043d\u0430\u044f \u0440\u0430\u0437\u0431\u0438\u0432\u043a\u0430 \u043f\u043e \u0430\u043a\u0442\u0438\u0432\u0430\u043c, \u0438\u0445 \u043a\u0430\u0447\u0435\u0441\u0442\u0432\u0443, \u0441\u0440\u043e\u043a\u0430\u043c \u043f\u043e\u0433\u0430\u0448\u0435\u043d\u0438\u044f\/\u043e\u0431\u0440\u0430\u0449\u0435\u043d\u0438\u044f.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abTether \u043f\u0440\u043e\u0434\u043e\u043b\u0436\u0430\u0435\u0442 \u043f\u0440\u0438\u043b\u0430\u0433\u0430\u0442\u044c \u0443\u0441\u0438\u043b\u0438\u044f \u043f\u043e \u043e\u0431\u0435\u0441\u043f\u0435\u0447\u0435\u043d\u0438\u044e \u0431\u043e\u043b\u044c\u0448\u0435\u0439 \u043f\u0440\u043e\u0437\u0440\u0430\u0447\u043d\u043e\u0441\u0442\u0438 \u0432\u0435\u0434\u0443\u0449\u0435\u0433\u043e \u0441\u0442\u0435\u0439\u0431\u043b\u043a\u043e\u0438\u043d\u0430 \u0441 \u043a\u0430\u043f\u0438\u0442\u0430\u043b\u0438\u0437\u0430\u0446\u0438\u0435\u0439 \u0432 $62 \u043c\u043b\u0440\u0434\u00bb, \u2014 \u043f\u043e\u0434\u0447\u0435\u0440\u043a\u043d\u0443\u043b \u043e\u043d.<\/p>\n<\/blockquote>\n<p>In May 2019, Tether Limited&#8217;s chief legal officer Stuart Hogner <a href=\"https:\/\/u1f987.com\/en\/news\/deltec-bank-tethers-usdt-fully-backed-by-reserves\">admitted<\/a> that USDT was backed by reserves at 74%.<\/p>\n<p>The first third party, <a href=\"https:\/\/u1f987.com\/en\/news\/deltec-bank-tethers-usdt-fully-backed-by-reserves\">confirming full backing<\/a> of the stablecoin, was the Bahamas-based Deltec bank in January 2021. The company held its assets at the institution.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>As of July 30, 2021, the stablecoin USDT was 100% backed by reserves of Tether Holdings Limited, Moore Cayman confirmed in a new report.<\/p>\n","protected":false},"author":1,"featured_media":47436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[807,1245],"class_list":["post-47435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-stablecoins","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"42","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=47435"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47435\/revisions"}],"predecessor-version":[{"id":47437,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47435\/revisions\/47437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/47436"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=47435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=47435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=47435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}