Tether touts highest ever percentage of cash and cash equivalents in reserves

Quick Take

  • Stablecoin issuer Tether noted in its third quarter attestation report that it holds the largest percentage of cash and cash equivalents ever in reserves.
  • The firm also maintains $1.7 billion in bitcoin.

Tether's attestation report for the third quarter said that cash and cash equivalents accounted for 85.7% of its total reserves, the highest percentage ever.

Tether noted a "vast majority" of those reserves are U.S. T-Bills, which comprised $72.6 billion in both direct and ind