The total amount of secured loans in Tether reserves reached $6.72 billion, fully secured by liquid assets

Odaily News According to Tether's third quarter 2024 attestation report, the total size of secured loans in its reserves reached US$6.72 billion, exceeding the "excess" funds in the reserves, which totaled only US$6.1 billion. This means that Tether (USDT) is once again partially backed by these secured loans. The report states that secured loans are fully secured by current assets and are monitored regularly, measured at amortized cost (the nominal value of short-term secured loans), and any expected credit loss provisions are adjusted in accordance with IFRS 9. However, it should be noted that Tether Group's total "equity" of approximately US$14 billion still exceeds the size of secured loans. (Protos)