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Tether (USDT) surpasses $6 billion in liabilities

Zethers

Tether (USDT) is now reporting that it has surpassed the six billion-dollar mark in liabilities. The largest stablecoin by market cap has now silently climbed its way beyond the six billion-dollar mark, reaching a new milestone in its development. According to the latest metrics posted on USDT’s website, the total amount of assets under its control are now $6,141,809,416.

Tether climbs above $6 billion

While most of the USDT in circulation is issued on the Ethereum blockchain, the asset is also available on the TRON, EOS, Liquid, and USDT’s own blockchain Omni. The distribution of the asset across the blockchains is uneven, with the asset being most concentrated on the Ethereum blockchain.

Tether has over 4.1 billion dollars worth of liabilities on Ethereum blockchain, as well as around 1.5 billion dollars on its Omni blockchain. Meanwhile, the Tron blockchain hosts around 760 million dollars worth of USDT, and the EOS blockchain holds USDT worth around 5 billion dollars.

Now with excess liabilities of around 127 million dollars, the total liabilities under its treasury are 6,014,443,887 USD. So, USDT recently achieved a milestone surpassing the six billion-dollar mark, which almost no-one noticed.

More notably, coin tracking sites such as CoinMarketCap still list USDT’s market capitalization as 4.6 billion dollars. As of now, no site is accurately reporting the stats represented on Tether’s own site.

Tether has been shrouded in controversies on several occasions, the most notable being the lawsuit against Tether and Bitfinex for market manipulation. As per the reports, the two companies manipulated the price of Bitcoin in its 2017 historic bull run.

Featured image by pixabay.

Ahmad Asghar

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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