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Key Points: Tether Reserve Breakdown includes $9.45B in BTC, gold, and U.S. Treasuries. Tether’s asset reserves were clarified amid scrutiny from recent WSJ claims. Tether Reserve Breakdown reveals $9.45B in BTC and gold, plus significant U.S. Treasury holdings, amid questions over backing and recent WSJ investigation claims. Tether Reserve Breakdown Highlights BTC and Gold Holdings Finally, at the Plan ₿ Forum, Tether CEO Paolo Ardoino disclosed for the first time that Tether holds $9.45 billion in Bitcoin and gold, further revealing the company’s reserve structure. However, he added that these are part of a larger reserve strategy involving nearly $100 billion in U.S. Treasuries. The breakdown meant to reassure investors, comes after a Wall Street Journal report on regulatory investigations into the matter. To that end, Ardoino defended the practice of Tether, characterizing the report as speculative and outdated. Beyond that, during an interview about questions on social media, Ardoino claimed that Tether is committed to being as transparent as any institution could be. Investors had taken to social media with their concerns after seeing shared slides of the portfolio and were asking whether those assets were enough to back Tether’s market capitalization of $120 billion. According to him, it has been designed more for the stability of the market, and from there came BTC, gold, and U.S. government bonds. Read more: WSJ Tether Report Draws Strong Criticism From Company Understanding Tether’s Asset Composition Beyond BTC and Gold During a presentation, indeed, Ardoino confirmed that the reserve holdings of Tether include 82,454 BTC and 48.3 tons of gold, valued at $9.45 billion, but he added that this doesn’t show the complete picture. Tether’s reserve structure contains a big chunk of the U.S. Treasuries, adding heft to the financial security of the stablecoin. In a bid to alleviate recent confusion, he…

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Filed under: News - @ October 28, 2024 2:42 am