Tether Doubles Excess Reserves to $7.95 Billion in Q3 Attestation
Key Takeaways
- •Tether's excess reserves reached $7.95 billion at the end of the third quarter, nearly doubling from $4.1 billion at the close of the second quarter.
- •The attestation report was prepared by the accounting firm BDO and released on Friday, October 30.
- •Excess reserves are assets held above the amounts needed to back stablecoins in circulation, serving as an additional cushion for token holders.
- •USDT, the dollar-pegged stablecoin covered by the attestation, is the largest stablecoin by market capitalization.
- •BDO attestations provide point-in-time snapshots of reserve composition and are distinct from a full financial audit.
Tether Doubles Excess Reserves to $7.95 Billion in Q3 Attestation
Tether's excess reserves climbed to $7.95 billion at the end of the third quarter, up from $4.1 billion at the close of the second quarter, according to the company's newest attestation report. The document, prepared by the accounting firm BDO, was released on Friday, October 30.
The attestation covers the reserves standing behind USDT, the dollar-pegged stablecoin issued by Tether that ranks as the largest stablecoin by market capitalization. At that scale, the asset composition disclosed in each quarterly report is a central element of the company's transparency practices.
What the Report Shows
Excess reserves are the assets that remain after the amounts required to back the stablecoins in circulation have been set aside, providing an additional cushion for token holders. The latest figures show this buffer nearly doubled quarter over quarter, rising to $7.95 billion from $4.1 billion three months earlier — a wider margin of assets held beyond what is needed to cover the tokens outstanding.
Tether periodically engages BDO to prepare attestations, which are point-in-time reviews of the composition of the assets backing USDT. An attestation provides a snapshot of reserves as of a specific date and is distinct from a full financial audit. Because the figures reflect conditions at a single date, comparing successive reports shows how that snapshot — including the excess-reserve cushion — shifts from one quarter to the next.
Background
USDT is designed to maintain parity with the US dollar. Tether has made quarterly reserve disclosures through BDO a regular part of its transparency reporting, with each report detailing the reserves held against the stablecoins outstanding at the time of publication. Under that cadence, a future report is expected to deliver an updated snapshot, pairing a new reserve composition with a fresh excess-reserve figure to measure against this quarter's $7.95 billion.
This content was first published on COINOTAG: https://en.coinotag.com/tether-q3-attestation-excess-reserves-7-95-billion
