Tether (Finally) Releases Breakdown Of Its $42 Billion In Crypto Reserves

Tether, the largest stablecoin issuer in the crypto space, released its first breakdown of reserve holdings.

Of their $42 billion in funds, on March 31, Tether claims to hold over 75% of their reserves in cash and cash equivalents, most of which are in the form of commercial paper. The remaining assets include loans to unaffiliated entities (12.55%), corporate bonds, funds & precious metals (9.96%), and additional investments which include bitcoin and other digital tokens (1.64%).

Tether has been subject to much controversy since its inception in 2014, with speculation surrounding the validity of their holdings.

Until March 2019, it claimed to be 1-to-1 backed with USD reserves; Tether’s website then modified this claim to instead be 100% backed by reserves, meaning non-cash (and cash equivalent) assets or loans could also be included in their holdings.

Earlier this year, Tether settled with the New York Attorney General’s office over a case which was reported on back in September 2019.

This breakdown of funds comes just after being listed on Coinbase, the cryptocurrency exchange which was recently listed Nasdaq

. These events appear to be additional steps on a long journey towards further trust and transparency by Tether.