Stablecoin giant Tether has published another transparency report detailing the composition of its reserves, and the blockchains on which its tokens are issued.
The report confirms that Tether has $3.3 billion in excess reserves, meaning its tokens are over 100% backed.
Analyzing Tether’s Reserves
Per the report published on Thursday, Tether owns $86.1 billion in assets, while possessing $82.8 billion in liabilities. These liabilities exist in the form of dollar-pegged USDT tokens issued across various blockchains.
The largest amount of USDT (~42.5 billion) circulates on Tron, while a rivaling amount (~38.4 billion) trades on Ethereum. The next largest chain, Solana, hosts far fewer tokens at just ~$800 million USDT.
11 other chains comprise the remainder of Tether’s USDT, though three of those networks – Omni, SLP, and Kusama – are scheduled to have their support canceled in May due to lack of adoption.
The company’s report reiterates claims from last month that the firm hol
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