Tether (USDT) Says Reserves in Cash, Equivalents Are at Highest Ever

Tether Holdings Ltd. said that almost 86% of its reserves were held in cash and cash equivalents in the third quarter, the highest percentage ever for the operator of the largest stablecoin.

The vast majority of Tether’s reserves held in cash and cash equivalents are US T-Bills, accounting for $72.6 billion. Tether’s total asset was at least $86.4 billion against its liabilities of $83.2 billion, according to a third-party attestation for the third quarter by BDO on Tuesday.