According to Odaily, Tether’s third-quarter 2024 attestation report reveals that the total scale of secured loans in its reserves has reached $6.72 billion, surpassing the ‘excess’ funds in the reserves, which total $6.1 billion. This indicates that Tether (USDT) is once again partially backed by these secured loans. The report highlights that the secured loans are fully backed by liquid assets, regularly monitored, measured at amortized cost (nominal value of short-term secured loans), and adjusted for any expected credit loss provisions by IFRS 9.It is important to note that Tether Group’s total ‘equity’ of approximately $14 billion still exceeds the scale of the secured loans.
By Binance News
Posted inCrypto News