Tether has USD 3.2 billion in reserves

USDT provider Tether's reserves remains a hotly debated topic. With a current report, the company finally answers the question.

Tether has generous reserves. This was confirmed by Italian accounting firm BDO in a report on the third quarter of the largest stablecoin provider in terms of market capitalization. According to the report, the company had reserves totaling US$3.2 billion as of Sept. 30.

A large portion of reserves, nearly 86 percent, consists of cash and other cash equivalents. This is the highest value in the company's history, the company explains.

There have been repeated rumors around Tether about how USDT stablecoins are actually backed.