Tether proof money and cash increased to 85.7%

USDT stablecoin provider Tether has released its Q3, 2023 confirmation report.
The company's cash and cash equivalents have grown to 85.7% of reserves, with $72.6 billion in US T-bills.
Tether holds $1.7 billion in BTC and $3.1 billion in gold.

Tether has released its verification report for Q3, 2023, which shows that the USDT stablecoin issuer's cash and cash equivalent reserves have grown the largest percentage of total reserves.

Cash and cash equivalents stood at 85.7% this year as of September 30, according to the report published on Tuesday. The largest percentage of this is exposure to US T-Bills at $72.6 billion – both directly and indirectly.

Tether also announced a significant reduction in collateralized loans, which totaled more than $330 million.

“We have recorded the highest percentage of holdings in cash and cash equivalents, demonstrating our determination to maintain liquidity and stability in a stable coin ecosystem. Secured loans and our ability to mitigate market volatility are a testament to our strong risk management strategies,” said Tether CEO Paolo Arduino.

Tether Bitcoin, Gold Holdings

Investments in cash and cash equivalents were nearly $1 billion for the quarter, while investments in industry-related research projects were $670 million and $800 million for the year. Specifically, the USDT issuer said its investments are not part of a stablecoin portfolio.

Tether today announced its confirmation for Q3/2023. Cash and cash equivalent reserve segment is high at 85.7% which is ~$1B

– US T-bill exposure (direct and indirect) by $72.6B ​​- Loans reduced by $330M – Investments in energy, bitcoin mining and P2P tech… pic.twitter.com/ibKJRPlBAg

— Paolo Ardoino 🍐 (@paoloardoino) October 31, 2023

Cumulative reserves show $1.7 billion in Bitcoin (BTC) and $3.1 billion in gold. Meanwhile, excess inventory at the end of the third quarter was $3.2 billion and forecast for October 31 was $4.3 billion. This leaves approximately $0.9 billion in loans as part of total reserves.

Tether supply reached $83.2 billion at the end of Q3 and $84.5 billion by the end of October 2023, the company said in the report.