Tether says 150k BTC but the reserve report shows ~100k?

[Dogedegen]

They are only buying Bitcoin after they figured out that algorithmic design is flawed and attributing the downfall to Bitcoin is just so wrong.

This part is not correct, they bought all the Bitcoin before the collapse of the algorithmic stablecoin. It was not done because a design flaw was acknowledge, because if it was known at the time it would have collapsed right then. The Bitcoin buying has softened the complete collapse, it only had positive effects and not a single negative effect in this case. Users need to stop making up negative lies, buying Bitcoin is safe and a great strategy.

Wait... why should they even hold bitcoin?

Last I checked Tether aka USDT was a stablecoin that claims it has a swap rate of 1:1 with the US dollar (not with bitcoin). And it was supposed to be backed by US dollar. That means they should be bag-holding this shitfiat as the thing that backs their centralized stablecoin to be able to keep that ratio correct and be able to fulfill their obligation meaning if every single person who bagholds Tether wanted to get their fiat out, the company has to be able to pay them the fiat they are owed.

It does not make sense to ask this question at all, because what you are asking is essentially this. Why should someone super rich, in this case Tether, ever buy Bitcoin? Why should they buy gold? Why not just keep all in treasuries so USD? I mean I expect you to have some decent knowledge here, so the question that you are asking answers itself with many reasonable points. Or you also have something against this extremely successful company? 

The discrepancy in the reserve report and the statement may not really contradict each other if the additional 50k is held as a corporate investment rather than as part of USDT’s reserves. What I do wonder now that they separated the holdings is how verifiable the additional bitcoin holdings are? The reserve attestation gives us info about the asset backing USDT at that time but we don’t really get a complete picture of Tethers wider financial position.

It does not matter how verifiable they are, because it is not relevant to you at all because it is not what is backing the stablecoin. Stop bothering private businesses that are rich. Nobody is snooping into your private affairs either. If it weren't for the benefits of marketing, it would be better for them to keep quiet like many companies that users on this forum have never ever heard of.

If you're new to this, just know that Tether has never had a proper audit of their reserves. Their version is called "attestation" and I think they did it every half year or so. And these are simply: "take our word for it, we have enough reserves, and they're good against out liabilities".

Not even done by a "Big Four" just some auditing firm. I read somewhere KPMG did do one for them last year or in 2024? People probably don't remember any longer how badly they measure up to proper reserve audits.

KPMG did it this year, for data completing the year 2025. It confirmed that they are as great as they say they are, and that critics are just envious of their success. So where is the problem? This is an attestation by one of the big 4 using the most recent complete financial data. A full audit is not necessary, it is usually required only if something wrong is detected or suspected.

[Faisal2202]

For anyone that is not able to access the information on the link DKeller listed, you can use this link ti read about it: https://finance.yahoo.com/markets/crypto/articles/tether-says-holds-150-000-174751694.html

The remaining 50000 BTC is reported as Tether investments and not part of the reserves backing USDT which is the reason Tether did not disclose it.

And with BTC dropping, is having bitcoin in the reserves even a good idea?

It is not bad to have bitcoin as part of the reserves so far it is not large up to the extent bitcoin price fall will affect the price of USDT.

Exactly, they have 150k BTC, and 100k is the reserve for their USDT stablecoin, while the other 50k BTC is not yet. But soon it will be. The audacity of Tether is to support their stablecoin with volatile BTC! Haha, and the audacity of them and others comparing it with BTC later! Haha, that's a completely chaotic situation for someone who doesn't really understand the importance of this post and Bitcoin.

Obviously, it's not bad to have BTC as reserves. Instead, it's the best thing to do and promote it. A stablecoin holding BTC in its reserves to support the biggest stablecoin out there shows how big BTC is. They don't hold anything else in their USDT reserves, haha.

[Odogwu-Blockchain]

Since no Proof of reserve from Ardoino is displayed for visibility,I don't believe it. It doesn't make sense to announce what no audience can get Proof, just a word in the air that varnish after the word is been said, no BTC address to check it out. The part that weakens me most is where there is no address to back everything up.

[Dogedegen]

Exactly, they have 150k BTC, and 100k is the reserve for their USDT stablecoin, while the other 50k BTC is not yet. But soon it will be. The audacity of Tether is to support their stablecoin with volatile BTC! Haha, and the audacity of them and others comparing it with BTC later! Haha, that's a completely chaotic situation for someone who doesn't really understand the importance of this post and Bitcoin.

Obviously, it's not bad to have BTC as reserves. Instead, it's the best thing to do and promote it. A stablecoin holding BTC in its reserves to support the biggest stablecoin out there shows how big BTC is. They don't hold anything else in their USDT reserves, haha.

Please read the thread before responding. It has nothing to do with any kind of audacity, and neither is Bitcoin that volatile anymore and this part does not create any kind of risk for USDT at all. Bitcoin's volatility is very low compared to most things, so it is time to stop mentioning this false information.

Look at the Tether reserves top 3 according to ChatGPT.

U.S. Treasury bills $122.84B
Gold $19.08B
Bitcoin $8.37B

Even if Bitcoin goes to $0 it has no relevance to USDT and creates zero risk for it. People really need a digital detox of negativity and paranoia.. Keep calm and investigate data before you make any conclusions, your life will thank you.  

Since no Proof of reserve from Ardoino is displayed for visibility,I don't believe it. It doesn't make sense to announce what no audience can get Proof, just a word in the air that varnish after the word is been said, no BTC address to check it out. The part that weakens me most is where there is no address to back everything up.

Did AI write this post or what is this supposed to be? It is already established that this has nothing to do with you, other users and does not create any kind of risk for USDT. If they publish or don't publish it is up to them. They don't owe anyone anything as long as this does not create any kind of real risk, which based on the data it does not do that. Always check the data before you write general posts that are false. Only publicly listed companies or those that are otherwise legally obligated must provide proof of reserves or of such claims, this is not the case for USDT. Anyway an attestation has been completed. If they have 50 BTC or 5 million BTC it does not make any difference for anyone here.

[X-ray]

They are only buying Bitcoin after they figured out that algorithmic design is flawed and attributing the downfall to Bitcoin is just so wrong.

This part is not correct, they bought all the Bitcoin before the collapse of the algorithmic stablecoin. It was not done because a design flaw was acknowledge, because if it was known at the time it would have collapsed right then. The Bitcoin buying has softened the complete collapse, it only had positive effects and not a single negative effect in this case. Users need to stop making up negative lies, buying Bitcoin is safe and a great strategy.

Yeah, you're right.

After walking back to the timeline, apparently Terraform labs announced plan to accumulate $10 billion worth of Bitcoin in early 2022 for alternative redeem and reduce hyper dilution of LUNA token and successfully accumulated 80k BTC by may 2022 through OTC and they're selling it once the algorithmic stablecoin started to crack which was triggered by attacks.

In this case, Bitcoin still have nothing to do with the downfall of UST and it was purely because their closed loop design flaw and unsustainable incentive through Anchor Protocol.

[SeriouslyGiveaway]

Yeah, you're right.

After walking back to the timeline, apparently Terraform labs announced plan to accumulate $10 billion worth of Bitcoin in early 2022 for alternative redeem and reduce hyper dilution of LUNA token and successfully accumulated 80k BTC by may 2022 through OTC and they're selling it once the algorithmic stablecoin started to crack which was triggered by attacks.

Using a volatile asset, and in case of Terra a basket of volatile assets, as backed treasury for their "algorithmic" stablecoin is a very risky choice. Stablecoin need to be backed by fiat currency, it's the safest way and volatile assets like Bitcoin and other altcoins should never be main parts of a treasury because in times of high volatility, those assets will lose most of their values, and affect the total treasury value.

In this case, Bitcoin still have nothing to do with the downfall of UST and it was purely because their closed loop design flaw and unsustainable incentive through Anchor Protocol.

Bitcoin is Bitcoin and it has no relation with UST or LUNA tokens which are different and they are dependent on their company and project design and management as well as blockchains on which they're deployed.

[pooya87]

Wait... why should they even hold bitcoin?

Last I checked Tether aka USDT was a stablecoin that claims it has a swap rate of 1:1 with the US dollar (not with bitcoin). And it was supposed to be backed by US dollar. That means they should be bag-holding this shitfiat as the thing that backs their centralized stablecoin to be able to keep that ratio correct and be able to fulfill their obligation meaning if every single person who bagholds Tether wanted to get their fiat out, the company has to be able to pay them the fiat they are owed.

It does not make sense to ask this question at all, because what you are asking is essentially this. Why should someone super rich, in this case Tether, ever buy Bitcoin? Why should they buy gold? Why not just keep all in treasuries so USD? I mean I expect you to have some decent knowledge here, so the question that you are asking answers itself with many reasonable points. Or you also have something against this extremely successful company? 

Haha... they can invest in anything they want and we all know that at the end of the day all these companies and altcoin makers know that the only viable option is bitcoin, the rest is just "temporary tools" to make profit to invest in bitcoin. Therefore they all own bitcoin even if they don't admit it.

I just find it odd that their bitcoin stash is being reported as a Tether reserve whereas they are notorious for not showing their dollar reserves which is the only thing that matters for a stablecoin that claims to be swappable with it with 1:1 ration. That's all

[CryptopreneurBrainboss]

Do you guys actually care where the coins sit as long as USDT is backed? And with BTC dropping, is having bitcoin in the reserves even a good idea?

They have 100k BTC right and that can be seen so yeah at least they got some backing and the other $50k BTC in investments which they stated so they aren't lying but also not saying the truth. They only have 100k BTC and then have investment worth around or more than 50k BTC which can be true or false but we don't have a way of verifying that, so we just have to take their words for it That so called investments can raise in value or decrease depending on how their investment is doing so technically they don't have the 50k BTC exactly as they say they do. Tether has never been a trustworthy company that should be held accountable for their words but at least they got some Bitcoin as reserved which is big enough as a backer for the uSDT they keep printing. For all we know, they could've been lying about the other 50k BTC but we just have to believe them that they got them in investments.

[ultrloa]

Do you guys actually care where the coins sit as long as USDT is backed? And with BTC dropping, is having bitcoin in the reserves even a good idea?

They have 100k BTC right and that can be seen so yeah at least they got some backing and the other $50k BTC in investments which they stated so they aren't lying but also not saying the truth. They only have 100k BTC and then have investment worth around or more than 50k BTC which can be true or false but we don't have a way of verifying that, so we just have to take their words for it That so called investments can raise in value or decrease depending on how their investment is doing so technically they don't have the 50k BTC exactly as they say they do. Tether has never been a trustworthy company that should be held accountable for their words but at least they got some Bitcoin as reserved which is big enough as a backer for the uSDT they keep printing. For all we know, they could've been lying about the other 50k BTC but we just have to believe them that they got them in investments.

But still its good to know that they have actual 100k BTC sitting on their reserve.

Maybe they just didn't disclose on where they put the other 50k, maybe to protect their reserves for any risk that they are thinking.

Although we don't know if they are lying or not, since we don't see the other figures. But I guess its up for people who supports their project to trust their company and their coin.

[SilverCryptoBullet]

But still its good to know that they have actual 100k BTC sitting on their reserve.

Maybe they just didn't disclose on where they put the other 50k, maybe to protect their reserves for any risk that they are thinking.

Although we don't know if they are lying or not, since we don't see the other figures. But I guess its up for people who supports their project to trust their company and their coin.

Because we have to rely on reports from Tether and audit reports from other audits companies, we are never sure about what happened behind the scene. Tether through their company history and the cryptocurrency market history can be trusted as a best stablecoin so far. However, it might possibly be changed in the future and we will not know how Tether company will become in the future.

I believe that with time and more regulations on cryptocurrency industry and stablecoin issuers, as well as strategy of Tether by buying more US bonds, this stablecoin issuer has actually become stronger, bigger and better in risk management.

By risk management principle, don't put all eggs into any one basket even it is USDT. There are other stablecoins for you and you can diversify your fund with different stablecoins.