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New Record: Tether Announced Its Liquidity Reserve

Aug 30, 2023
2 min read

Tether, the issuer of USDT stablecoin, has announced that it will maintain a liquidity pool of $3.29 billion to ensure ecosystem resilience and build shareholder confidence. This information can be found in the latest report on the company's reserve assets.

The number of total Tether assets stands at $86.1 billion, while its liabilities are equal to $82.8 billion. Solana's blockchain emerges as the frontrunner when it comes to pre-authorized issuance, with its $1.05 billion. Ethereum and Tron secured second and third positions with $617 million and $353 million correspondingly. Other stablecoins by Tether, which are not anchored to the U.S. dollar, do not show such high levels of liquidity.

At the end of July, Tether announced a profit of $850 million for the second quarter of 2023. Since August 17th, the company has stopped supporting the Kusama, Bitcoin Cash SLP, and Omni Layer networks. According to the official statement, such a decision was made based on the low level of community interest in these networks.

Tether also announced that it will stop issuing USDT-Omni, USDT-Kusama and USDT-BCHSLP from August 17th. However, the company will continue to issue these stablecoins over the next 12 months, so everyone could be completely prepared for this change.

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