Tether announced it’s closed the first quarter 2023 with $81.8 billion in consolidated total assets. The majority of its reserves are invested in US Treasury Bills. It has also been working to take steps to reduce its reliance on pure bank deposits as a source of liquidity and instead leverage the Repo market as an additional measure to ensure higher standards of protection for its users by maintaining the required liquidity.
Tether’s reserves remain extremely liquid, with the majority of its investments being held in cash, cash equivalents, and other short-term deposits (approximately 85%). This latest report highlights a 25% reduction in secured loans from 8.7% to 6.5% of this asset class within the overall reserves and the highest percentage to date of assets allocated in US Treasury Bills. Gold and Bitcoin represent circa 4% and 2% of the total reserves, respectively. All new issuance of tokens have been invested in US Treasury bills or placed in overnight repo.