Tether plans to start publishing real-time reserve reports in 2024

2023-10-20 17:00

Tether is planning to introduce real-time reserve data reporting by 2024. Tether currently updates its reserve data daily and issues monthly and quarterly reports, According to its Q2 attestation Tether reserves had an excess of $3.3 billion.

Tether Holdings, the issuer of the world’s largest stablecoin, Tether (USDT), is gearing up to enhance the transparency of its operations by updating the frequency of releasing reserve data reports.

According to Paolo Ardoino, Tether’s Chief Technical Officer and the upcoming CEO, the company is planning to initiate real-time publication of reserve data by the year 2024.

Transparency of Tether’s reserves

The move comes in response to ongoing concerns about the transparency of Tether’s reserves, which is essential for maintaining trust in the stablecoin. Currently, Tether publishes and updates its reserve data at least once a day. In addition to daily updates, the company also issues monthly reserve reports and quarterly reserve reviews.

In Tether’s latest Q2 attestation, performed by accounting firm BDO, it was revealed that the company had bolstered its excess reserves by $850 million, bringing the total excess reserves to a substantial $3.3 billion. Furthermore, the report disclosed that Tether had approximately $72 billion worth of indirect exposure to United States Treasuries held by money market funds, with US Treasuries collateralizing its overnight repurchase agreements.

Real-time reserve reporting

This commitment to real-time reporting is a significant step toward ensuring the stability and reliability of Tether in the cryptocurrency market. The move will provide users and investors with immediate and up-to-date information on the assets underpinning the stablecoin, thereby addressing previous criticisms and increasing credibility.

Tether’s efforts to enhance transparency align with the broader objectives of creating a trustworthy environment for stablecoin users and investors.

The post Tether plans to start publishing real-time reserve reports in 2024 appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Tether (USDT) на Currencies.ru

$ 1.0004 (+0.01%)
Объем 24H $39.669b
Изменеия 24h: -0.01 %, 7d: 0.06 %
Cегодня L: $1.0002 - H: $1.0009
Капитализация $111.375b Rank 3
Цена в час новости $ 1.0002 (0.02%)

tether reserve reports data 2024 real-time quarterly

Источник: coinjournal.net

tether reserve → Результатов: 92


OKX представила еще один отчет о резервах

Биткоин-биржа OKX опубликовала второй отчет о наличии резервов (Proof-of-Reserves) для подтверждения обеспечения активов пользователей. . @okx released its second proof-of-reserves report, revealing bitcoin, ether and tether reserve ratios of over 100%.

2022-12-24 19:12


Tether leads as pack chases, but is DAI as dead as Terra? – The stablecoin war, a Deep Dive

Cryptocurrency can be a polarising subject. Some believe it will change the world. They say we will live in a society with Bitcoin as the reserve currency; we will purchase our chai tea lattés in Starbucks with digital tokens, and then we will post them on social media domiciled in Web3, with everything running seamlessly […] The post Tether leads as pack chases, but is DAI as dead as Terra? – The stablecoin war, a Deep Dive appeared first on CoinJournal.

2022-11-1 17:28


Фото:

Op Ed: A Summary of

In the latest on the ongoing legal dispute between the New York Attorney General (NYAG), cryptocurrency exchange Bitfinex and stablecoin issuer Tether, the New York Supreme Court has modified an April 24, 2019, preliminary injunction and now Bitfinex is allowed to continue using the Tether reserves that were loaned to it to maintain its ordinary course of business, such as paying employees and consultants.

2019-5-18 22:14


Фото:

Tether and Bitfinex Ask New York Attorney General for Fund Accessibility

Attorneys for Tether and Bitfinex are hoping to get the former access to its reserves amid a legal dispute with New York Office of the Attorney General (NYOAG). In a letter sent to the New York County Supreme Court, attorneys representing iFinex (the parent organization of Bitfinex) and Tether took issue with the restrictions that had been placed on Tether's transactions with related parties as part of an ongoing case against them, stating that the NYOAG had no basis for disallowing tether (USDT) holders and other affiliated entities from redeeming their tokens.

2019-5-16 18:51


дальше еще 43 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Kraken considers ending USDT support in the EU

Kraken is reportedly considering pulling support for the stablecoin USDT in Europe. The exchange’s plans come amid the push for compliance ahead of EU’s crypto regulations MiCA. Crypto exchange OKX ended its USDT trading support in the EU in March.

Tether now the seventh-largest Bitcoin (BTC) holder

Tether recently committed 15% of its net profit to Bitcoin investments. On March 31, 2024, Tether acquired an additional 8,888 BTC at $30,305 each bringing unrealized profit to $2. 94B. Tether is now 7th largest holder of Bitcoin (BTC), with 75,354 BTC.

DOJ seizes $9M worth of Tether linked to ‘pig butchering’ scam

The US Department of Justice (DOJ) has allegedly seized $9 million in the stablecoin Tether (USDT). The funds were linked to a crypto romance and confidence scam called “pig butchering. ” On Monday Tether announced it had frozen $255 million linked to a human trafficking scheme.

Tether to Invest $500 Million in Bitcoin Mining

Tether, expanding beyond its USDT stablecoin roots, announces a major foray into Bitcoin mining. The firm plans to invest $500 million in this energy-intensive sector, signaling a significant shift in its business model and potential impact on the Bitcoin mining landscape.