​​Tether Cuts USDT Collateral in Commercial Securities by 17% | Best Crypto Traders Official

​​Tether Cuts USDT Collateral in Commercial Securities by 17%

In the first quarter of 2022, the USDT stablecoin issuer, Tether Holdings Limited, reduced its reserves in commercial securities by 17%. By the end of the second quarter, the company intends to reduce the amount of collateral in these assets by another 20%.

In three months of 2022, the company's commercial securities reserves fell from $24.2 billion to $20.1 billion, according to an audit report from accounting firm MHA Cayman.
As of March 31, Tether's total assets are over $82.42 billion. According to CoinGecko, USDT's market supply is valued at $74.12 billion at the time of writing.
“The reserves of the consolidated group, created against the issued digital tokens, exceed the amount necessary to repay them,” the report says.