TechFlow news, on November 3, according to Tether's third-quarter 2024 attestation report, the total value of secured loans in its reserves reached $6.72 billion, exceeding the "excess" funds in reserves, which amounted to only $6.1 billion. This means that Tether (USDT) is again partially backed by these secured loans. The report states that the secured loans are fully collateralized by liquid assets and are subject to regular monitoring, measured at amortized cost (the nominal value of short-term secured loans), with any expected credit loss provisions adjusted in accordance with IFRS 9.
However, it should be noted that Tether Group's total "equity" of approximately $14 billion still exceeds the size of the secured loans.
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