Tether CEO Paolo Ardoino recently shed light on the reserves backing the USDT stablecoin, addressing concerns raised by a Wall Street Journal report alleging a US government investigation into the company.
Ardoino revealed that Tether holds substantial assets, including approximately $100 billion in US Treasuries, over 82,000 Bitcoin valued at around $5.5 billion, and 48 tons of gold. These disclosures alleviate fears and uncertainties surrounding Tether’s financial stability and transparency.
While the company continues to face scrutiny, these revelations provide insights into the assets backing USDT and its commitment to maintaining a 1:1 peg with the US dollar.
