March 29, 2024

How is Tether (USDT) stablecoin secured?

How is Tether (USDT) stablecoin secured?

The issuer of the USDT stablecoin, Tether, for the first time since 2014, published information about its assets as ofas of March 31, 2021:

How is Tether (USDT) stablecoin secured?

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Cash and cash equivalents account for75.85% of assets. Cash equivalents mean highly liquid instruments like short-term bonds or deposits. In other words, these are instruments that can be instantly sold at market prices.

12.55% are loans that Tether issued to non-affiliates, that is, persons not associated with the company. The USDT issuer placed another 9.96% of funds in corporate bonds, funds and precious metals. Other asset types, including Bitcoin, account for 1.64%.

“We see some large companies adding bitcoin to their balance sheets to diversify their risks. Tether uses the same practice. "- said Stuart Högner, general counsel for Tether.

Availability of USDT stablecoin collateral wasthe subject of controversy for several years. Many crypto market participants feared that USDT was not 100% backed by the US dollar. However, on March 30, Tether confirmed the presence of USDT collateral by passing a certification prepared by Moore Cayman.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) https://binance.com 9.7
2 Bybit https://bybit.com 7.5
3 OKEx https://okex.com 7.1
4 Exmo https://exmo.me 6.9
5 Huobi https://huobi.com 6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
  • Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
  • Feedback and support– we analyze user reviews and the quality of technical support.
  • Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform Features– availability of additional features &#8212; futures, options, staking, etc.
  • final grade– the average number of points for all indicators determines the place in the ranking.

How is Tether (USDT) stablecoin secured?

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