$80.22B reserves for $70.83B market cap
- T-Bills 61%
- Repos 14%
- Gold 10%
- Secured loans 7%
- BTC 3%
- Not reported 3%
- Equities 2%
- Cash 0%
- Non-US T-Bills 0%
- Corporate bonds 0%
As of Jun 30, 2026 · Issuer reports · latest report · sources
01 · Backing chain
What USDT is backed by, and what it backs
Move the slider or press play to see the chain week by week since 2022.
Backs: tokens that hold USDT
Backed by: the reserves behind USDT, through every level
Backing on Oct 31, 2026, the last recorded day of its week. Backing from reports counts until the next report, for at most 140 days. Between two reports the values are estimated, see the settings.
02 · Composition over time
What the reserves were made of
Share of each reserve asset, or its value in USD at the time. Shares also shift when the price of a reserve asset changes. Gaps are periods without records.
Tap for the mix at a date.
Click reserve assets above to show only those.
03 · Backing ratio
Reserves against market cap
Daily, since market data is recorded. The composition reaches further back.
04 · Reserves today
Every reserve asset
| Reserve asset | Value | Share |
|---|---|---|
| T-Bills | $49.15B | 61.3% |
| Repos | $10.95B | 13.7% |
| Gold | $8.01B | 10.0% |
| Secured loans | $5.75B | 7.2% |
| BTC | $2.48B | 3.1% |
| Not reported | $2.24B | 2.8% |
| Equities | $1.61B | 2.0% |
| Cash | $17.23M | 0.0% |
| Non-US T-Bills | $9.57M | 0.0% |
| Corporate bonds | $3.72M | 0.0% |
USDS
Dai06 · Sources
26 reports behind these numbers
Tether's quarterly assurance reports, for all chains together. USDT on Ethereum gets the Ethereum share of the reserves, by circulating supply.
| Period | File | Source |
|---|---|---|
| Jun 2026 | USDT-2026-06-Attestation-report.pdf | Original |
| Mar 2026 | USDT-2026-03-Attestation-report.pdf | Original |
| Dec 2025 | USDT-2025-12-Attestation-report.pdf | Original |
| Sep 2025 | USDT-2025-09-Attestation-report.pdf | Original |
| Jun 2025 | USDT-2025-06-Attestation-report.pdf | Original |
| Mar 2025 | USDT-2025-03-Attestation-report.pdf | Original |
| Dec 2024 | USDT-2024-12-Attestation-report.pdf | Original |
| Sep 2024 | USDT-2024-09-Attestation-report.pdf | Original |
| Jun 2024 | USDT-2024-06-Attestation-report.pdf | Original |
| Mar 2024 | USDT-2024-03-Attestation-report.pdf | Original |
| Dec 2023 | USDT-2023-12-Attestation-report.pdf | Original |
| Sep 2023 | USDT-2023-09-Attestation-report.pdf | Original |
| Jun 2023 | USDT-2023-06-Attestation-report.pdf | Original |
| Mar 2023 | USDT-2023-03-Attestation-report.pdf | Original |
| Dec 2022 | USDT-2022-12-Attestation-report.pdf | Original |
| Sep 2022 | USDT-2022-09-Attestation-report.pdf | Original |
| Jun 2022 | USDT-2022-06-Attestation-report.pdf | Original |
| Mar 2022 | USDT-2022-03-Attestation-report.pdf | Original |
| Dec 2021 | USDT-2021-12-Attestation-report.pdf | Original |
| Sep 2021 | USDT-2021-09-Attestation-report.pdf | Original |
| Jun 2021 | USDT-2021-06-Attestation-report.pdf | Original |
| Mar 2021 | USDT-2021-03-Attestation-report.pdf | Original |
| Feb 2021 | USDT-2021-02-Attestation-report.pdf | Original |
| Oct 2018 | USDT-2018-10-Attestation-report.pdf | Original |
| Jun 2018 | USDT-2018-06-Attestation-report.pdf | Original |
| Sep 2017 | USDT-2017-09-Attestation-report.pdf | Original |
The reports belong to their issuers and auditors. The hash lets anyone check that a copy is the report the numbers were taken from.
- Price
- $1.00
- Market cap
- $70.83B
- Supply
- 70.89B
- Updated
- Oct 31, 2026