Token on 3 chains
$171.73B reserves for $165.60B market cap, all chains
- 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 · Chains
USDT on each chain
The reserves are reported for all chains together. Each chain gets the share of its circulating supply at the report date.
| Chain | Market cap | Reserves | Share | Backing ratio |
|---|---|---|---|---|
 USDT on Tron | $92.37B | $89.21B | 51.9% | 101.7% |
 USDT on Ethereum | $70.83B | $80.22B | 46.7% | 101.7% |
 USDT on Solana | $2.40B | $2.30B | 1.3% | 101.7% |
02 · Backing chain
What USDT is backed by
All chains together. Move the slider or press play to see the chain week by week.
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.
03 · Composition over time
What the reserves were made of
All chains together. Before a chain was tracked, its part is missing from the totals.
Tap for the mix at a date.
Click reserve assets above to show only those.
04 · Backing ratio
Reserves against market cap
All chains together, at the report dates.
05 · Reserves today
Every reserve asset
| Reserve asset | Value | Share |
|---|---|---|
| T-Bills | $105.21B | 61.3% |
| Repos | $23.45B | 13.7% |
| Gold | $17.14B | 10.0% |
| Secured loans | $12.31B | 7.2% |
| BTC | $5.31B | 3.1% |
| Not reported | $4.80B | 2.8% |
| Equities | $3.44B | 2.0% |
| Cash | $36.89M | 0.0% |
| Non-US T-Bills | $20.48M | 0.0% |
| Corporate bonds | $7.97M | 0.0% |
06 · Sources
26 reports behind these numbers
Tether's quarterly assurance reports (BDO), for all chains together. Each chain gets its share by circulating supply.
| Period | File | Source |
|---|---|---|
| 2026-06 | USDT-2026-06-Attestation-report.pdf | Original |
| 2026-03 | USDT-2026-03-Attestation-report.pdf | Original |
| 2025-12 | USDT-2025-12-Attestation-report.pdf | Original |
| 2025-09 | USDT-2025-09-Attestation-report.pdf | Original |
| 2025-06 | USDT-2025-06-Attestation-report.pdf | Original |
| 2025-03 | USDT-2025-03-Attestation-report.pdf | Original |
| 2024-12 | USDT-2024-12-Attestation-report.pdf | Original |
| 2024-09 | USDT-2024-09-Attestation-report.pdf | Original |
| 2024-06 | USDT-2024-06-Attestation-report.pdf | Original |
| 2024-03 | USDT-2024-03-Attestation-report.pdf | Original |
| 2023-12 | USDT-2023-12-Attestation-report.pdf | Original |
| 2023-09 | USDT-2023-09-Attestation-report.pdf | Original |
| 2023-06 | USDT-2023-06-Attestation-report.pdf | Original |
| 2023-03 | USDT-2023-03-Attestation-report.pdf | Original |
| 2022-12 | USDT-2022-12-Attestation-report.pdf | Original |
| 2022-09 | USDT-2022-09-Attestation-report.pdf | Original |
| 2022-06 | USDT-2022-06-Attestation-report.pdf | Original |
| 2022-03 | USDT-2022-03-Attestation-report.pdf | Original |
| 2021-12 | USDT-2021-12-Attestation-report.pdf | Original |
| 2021-09 | USDT-2021-09-Attestation-report.pdf | Original |
| 2021-06 | USDT-2021-06-Attestation-report.pdf | Original |
| 2021-03 | USDT-2021-03-Attestation-report.pdf | Original |
| 2021-02 | USDT-2021-02-Attestation-report.pdf | Original |
| 2018-10 | USDT-2018-10-Attestation-report.pdf | Original |
| 2018-06 | USDT-2018-06-Attestation-report.pdf | Original |
| 2017-09 | USDT-2017-09-Attestation-report.pdf | Original |