Tether Will Release Company Reserve Fund Report

USDT, stablecoin published by Tether. (Photo; Doc. Cryptomundo)

JAKARTA – Tether, issuer of the USDT stablecoin, plans to release a real-time reserve report next year. This information was conveyed by Tether CEO, Paolo Ardoino.

Ardoino, who will take over as the company's CEO in  December this year, revealed to Bloomberg that the company plans to publish real-time proof of reserves sometime next year, although Tether itself stated that there is no "firm" deadline for the plan.

Tether has provided daily reserve reports on its website. At the time of publication, Tether data reported that it held 84.15 billion US dollars (Rp. 1.3 quadrillion) in USDT, a US dollar-backed crypto asset that is the largest stablecoin on the market.

Ardoino also revealed that his goals for Tether going into next year include increasing technology investments, talking to regulators, and expanding into renewable energy. USDT has a larger trading volume than any other crypto asset, even Bitcoin (BTC).

Last week, blockchain analytics platform Santiment revealed that a large number of Tether stablecoins returned to crypto exchanges, which is often a bullish signal.

The analytics platform said that the amount of USDT on exchanges has reached levels last seen in March 2023, giving a boost to the “purchasing power” of crypto investors.

"The $9.99 billion (IDR 159 trillion) worth of Tether sitting on exchanges is the highest level of purchasing power for crypto's top stablecoin in about seven months. Since June 13, these exchanges have seen a 40% increase in available USDT. "