{"id":27374,"date":"2022-05-19T11:26:35","date_gmt":"2022-05-19T15:26:35","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=27374"},"modified":"2024-07-28T07:39:01","modified_gmt":"2024-07-28T11:39:01","slug":"tether-reveals-82-billion-reserves-amid-crash-reports","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/tether-reveals-82-billion-reserves-amid-crash-reports\/","title":{"rendered":"Tether Reveals $82 Billion Reserves Amid Crash Reports"},"content":{"rendered":"\n<p><a href=\"https:\/\/coinscreed.com\/staging\/will-tether-usdt-crash-following-terras-disaster.html\">Tether<\/a> released its $82 billion reserves on Twitter to its users so as to silence haters regarding crash reports<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"720\" height=\"378\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Tether-Reveals-82-Billion-Reserves-Amid-Crash-Reports.webp\" alt=\"Tether Reveals $82 Billion Reserves Amid Crash Reports\" class=\"wp-image-27381\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Tether-Reveals-82-Billion-Reserves-Amid-Crash-Reports.webp 720w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Tether-Reveals-82-Billion-Reserves-Amid-Crash-Reports-300x158.webp 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Tether-Reveals-82-Billion-Reserves-Amid-Crash-Reports-150x79.webp 150w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/><figcaption>Tether Reveals $82 Billion Reserves Amid Crash Reports<\/figcaption><\/figure>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\"><ul><li><a href=\"#h-tether-loses-user-s-trust-following-luna-crash\" >Tether Loses User's Trust Following LUNA Crash<\/a><\/li><li><a href=\"#h-tether-reassures-users-shuts-down-crash-reports\" >Tether Reassures Users, Shuts Down Crash Reports<\/a><\/li><\/nav><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tether-loses-user-s-trust-following-luna-crash\">Tether Loses User's Trust Following LUNA Crash<\/h2>\n\n\n\n<p>Just over a week ago, when <a href=\"https:\/\/coinscreed.com\/staging\/luna-ust-stablecoin-price-crash-explained.html\">Terra and its UST stablecoin failed<\/a>, there was a lot of panic in the stablecoin market. <\/p>\n\n\n\n<p>Some of them, like USDC and BUSD, felt pretty good because they were trading at a higher price than the market. <\/p>\n\n\n\n<p>Others, like USDN, DEI, and USDT, were put under a lot of pressure, mostly because users didn't trust them.<\/p>\n\n\n\n<p>As one of the most popular stablecoins, <a href=\"https:\/\/coinscreed.com\/staging\/tether-usdt-under-pressure-as-supply-tumbles-to-74-billion.html\">USDT<\/a> from Tether seems like it should be able to ride out this market chaos and be a safe place for investors' money. <\/p>\n\n\n\n<p>But the public still doesn't fully trust Tether (USDT) because of its problems with the <a href=\"https:\/\/coinscreed.com\/staging\/secs-peirce-says-stablecoins-regulations-must-embrace-trial-and-error.html\">U.S. SEC<\/a> and the number of reserves that seems too high.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-twitter\"><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/paoloardoino?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@paoloardoino<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> <br><br>With all due respect sir, when <a href=\"https:\/\/twitter.com\/search?q=%24USDT&src=ctag&ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$USDT<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a> audit report?<br><br>We&#39;re scared due to the <a href=\"https:\/\/twitter.com\/search?q=%24UST&src=ctag&ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$UST<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a> collapse and the market wants spot <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Bitcoin<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a> ETFs.<br><br>Regulators, institutions, and crypto investors are waiting for your response on whether $75B worth of USDT is fully-backed or not.<\/p>&mdash; Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1526352356035657733?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 17, 2022<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/div><figcaption>\u2014 Ki Young Ju (@ki_young_ju)\u00a0<a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1526352356035657733?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noreferrer noopener\">May 17, 2022<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n<p>The situation has also gotten worse because Tether Holdings put out a list of reserves in December 2021 that included a lot of commercial papers. <\/p>\n\n\n\n<p>The problem with commercial papers is that they are much less liquid, which means they would be harder to get rid of in a financial crisis.<\/p>\n\n\n\n<p>Major analysts have repeatedly warned Tether about this, and Tether's CTO has agreed with them, saying that they are reducing their holdings of these securities and increasing their exposure to U.S. Treasuries.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tether-reassures-users-shuts-down-crash-reports\">Tether Reassures Users, Shuts Down Crash Reports<\/h2>\n\n\n\n<p>Lastly, on May 19, Tether released its consolidated reserves report, which showed a 17 percent drop in commercial paper from $24.2 billion to $19.9 billion from one quarter to the next.<\/p>\n\n\n\n<p>The attestation, which was done by independent accountants MHA Cayman, shows the group's assets as of March 31, 2022.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>At least $82,424,821,101 is in total assets when they are all added up.<\/li><li>The group's total assets are greater than its total debts.<\/li><li>The group's reserves for digital tokens it has given out are more than the amount needed to redeem them.<\/li><li>With a focus on shorter-term assets, the average maturity of consolidated assets has dropped by a lot.<\/li><\/ul>\n\n\n\n<p>The group's investments in money market funds and U.S. Treasury bills went up from $34.5 billion to $39.2 billion, which is an increase of more than 13%.<\/p>\n\n\n\n<p>The CTO of Tether, Paolo Ardoino, also said something about the report. He said that the past week shows how strong and resilient Tether is. Tether is fully funded, and its reserves are made up of things that are solid, conservative, and easy to use.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether released its $82 billion reserves on Twitter to its users so as to silence haters regarding crash reports Tether Loses User&#8217;s Trust Following LUNA Crash Just over a week ago, when Terra and its UST stablecoin failed, there was a lot of panic in the stablecoin market. Some of them, like USDC and BUSD, [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":27381,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5850,6020],"class_list":["post-27374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-tether-2","tag-usdt-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Tether-Reveals-82-Billion-Reserves-Amid-Crash-Reports.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/27374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=27374"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/27374\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/27381"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=27374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=27374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=27374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}