In the cryptocurrency world, people often want things to be open and clear. Following this idea, Tether, a big name in stablecoins, has now shown what’s in its new reserve report.
By August 24th, Tether said it had a lot of money – about $86.1 billion. But it also owed some money, around $82.8 billion. This difference between what they have and what they owe means they’re in a good spot, with their reserve ratio crossing 100%.
This shows they have a safety cushion of $3.29 billion, which is really important for their operations on 15 different blockchains.
Different Types of Money in Many Currencies
Tether isn’t only about US dollars. They have different kinds of money from various countries, and each matches their regular money on a 1-to-1 basis. Here’s a quick look:
1. US Dollar Tether (USD₮): This is the biggest, with about $82.8 billion.
2. Euro Tether (EUR₮): They have around €36.4 million.
3. Chinese Yuan Tether (CNH₮): They’ve got about ¥20.5 million.
4. Gold Tether (XAU₮): This one is interesting – they have gold reserves that are like ¥246,524.33 of gold.
5. Mexican Peso Tether (MXN₮): The list ends with about $19.6 million worth of Mexican Pesos.
Tether’s Spread Across Different Blockchains
Tether doesn’t keep all its money in one place. It’s spread out on different blockchains to work better:
1. Ethereum and Tron: They have lots of money – $39 billion on Ethereum and $42.8 billion on Tron.
2. Solana: About $1.9 billion is on this platform.
3. Omni: They’re watching over nearly $888 million here.
4. Other Blockchains: Some more blockchains like Avalanche, Tezos, and Algorand are also holding hundreds of millions in Tether. This shows how far Tether reaches.
Tether also keeps extra money aside for safety. This makes sure things stay stable in the Tether world and gives users more confidence. They don’t do this just once – they keep checking and making sure, showing they care about their users and the crypto community.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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