Stablecoin issuer Tether_to revealed for the first time that it holds $3.4 billion in gold and $1.5 billion in bitcoin in its reserves. sndr_krisztian reports
Read more:“Tether has become the most trusted stablecoin in the industry due to its perceived safety from the SEC and due to its peg safety as of late,” Conor Ryder, an analyst at digital asset research firm Kaiko, wrote in a note.
According to the Q1 attestation signed by financial services firm BDO Italia, Tether held about $2.44 billion in excess reserves of the $79.4 billion Tether-issued tokens in circulation as of March 31. That surplus was at an all-time high, Paolo Ardoino, chief technology officer of Tether, said in theAll newly issued tokens were invested in US Treasury bills or deposited in overnight repurchase and reverse repurchase facilities, Tether said.
Tether continued to trim the amount of secured loans in its reserves, reducing them by about $500 million to $5.3 billion in Q1. The firmTether has been criticized in the crypto industry for years for a
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