{"id":3242,"date":"2022-05-21T07:26:03","date_gmt":"2022-05-21T07:26:03","guid":{"rendered":"https:\/\/deficoins.io\/?p=3242"},"modified":"2022-05-21T07:26:03","modified_gmt":"2022-05-21T07:26:03","slug":"tether-displays-82-billion-reserves-to-silence-haters","status":"publish","type":"post","link":"https:\/\/deficoins.io\/blog\/2022\/05\/21\/tether-displays-82-billion-reserves-to-silence-haters\/","title":{"rendered":"Tether Displays $82 Billion Reserves to Silence Haters","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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Source: www.pinterest.com<\/p><\/div>\n

The crypto crash has seen an increase in the demand for stablecoins, but the collapse of Terra and the UST stablecoin, which happened more than a week ago, has caused real panic in the stablecoin segment.<\/p>\n

Buy DeFi Coin (DEFC) Now<\/span><\/a><\/div>\n

Some stablecoins like BUSD and USDC were feeling pretty good, fetching good prices in the crypto markets. Other stablecoins like DEI, USDT, and USDN found themselves under serious pressure because of a lack of trust from cryptocurrency traders.<\/p>\n

To the eyes of many crypto investors, Tether\u2019s USDT, one of the most popular stablecoins, should survive the crypto crash and provide a safe haven for investors\u2019 funds. However, crypto traders still don\u2019t trust USDT because of its seemingly overblown number of reserves and its run-ins with the U.S SEC.<\/p>\n

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Source: Twitter.com<\/p><\/div>\n

The high number of commercial papers published in the reserves by Tether Holdings in December 2021 has worsened the situation. Commercial papers are less liquid, making them hard to get rid of during times of financial crisis.<\/p>\n

Many analysts have warned Tether about this, with Tether\u2019s CTO agreeing with them, promising to reduce their holdings of those securities and increase the exposure of U.S treasuries.<\/p>\n

Tether Silences Haters and Reassures its Users<\/strong><\/p>\n

On May 19, Tether released its consolidated reserves report to the public, which showed a 17% quarter-over-quarter decline in commercial paper, from $24.2 billion to $19.9 billion.<\/p>\n

The attestation, which was conducted by independent accountants MHA Cayman, represents Tether\u2019s assets as of March 31, 2022, as follows:<\/p>\n