USDT will continue to disclose reserve reports in the future, with the short-term bond allocation ratio approaching 30%.

The issuer of the stablecoin USDT, Tether, recently released a transparent report detailing the $6.28 billion reserves it held as of June 30th.

The issuer of the US dollar stablecoin (USDT), Tether, recently released a transparent report detailing $62.8 billion in reserves the company held as of June 30.

As of that date, as much as 85% of the reserves were categorized as "cash, cash equivalents, short-term deposits, and commercial paper." Among them, 58% were in "commercial paper and certificates of deposit," 29% in "U.S. Treasury Bills," 12% in "cash and bank deposits," and 2% in "repurchase agreements." In the reserve report, Tether made a significant adjustment regarding "cash and bank deposits." Previously, "cash" and "custodial deposits" were not classified under the same asset category; this time, Tether combined the two into the same category and renamed it as "cash and bank deposits," reducing the percentage from 28% to 12%, indicating a decrease in the actual proportion of "cash" in the reserves.

Of note, Tether's allocation of "U.S. Treasury Bills" has significantly increased, from 3% in the previous reserve report to 29% in the current one. (Note: "U.S. Treasury Bills" are short-term debt securities issued by the U.S. government with maturities of one year or less.)

This is the second reserve report released by Tether since its inception in 2014. Earlier this year, the company decided to continue publishing reserve reports due to the 2019 legal action by the New York Attorney General accusing the Bitfinex exchange of illicitly using $850 million of USDT from Tether's reserves to cover losses. As part of the settlement, Bitfinex and Tether both agreed to admit no wrongdoing and pay a $18.5 million fine; in addition, they must provide quarterly reports for the next two years detailing the composition of USDT reserves.

Meanwhile, auditing firm Moore Cayman also affirmed Tether's reserve report. Tether's Chief Technology Officer Paolo Ardoino stated: "The recent quality assurance by Moore Cayman is a testament to the massive support we have received! A healthy and conservative investment portfolio coupled with a focus on liquidity will continue to drive growth for the company!"