Verify what backs a stablecoin
DIA Value computes intrinsic fair value for stablecoins from reserves and on-chain data, so backing and peg health can be verified.
Supply
61.5% of USD stablecoin supply · 1st of 70 USD stablecoins with supply
Peg today
below $1 · 53 USD stablecoins with $1M+ supply, priced today: median 15 bps from $1
Chains
2nd of 70 USD stablecoins read on chain · median 2
Holders on Tron
Share of supply in lending
at least · USD median 4.0%
Best yield
ranked by lower of 30d and spot APY × deposits · Aave V3 · 3.78% base, 0% rewards
USDT is a USD stablecoin issued by Tether, launched in 2014.
On 1 October 2026 Tether's own transparency feed showed about $92 billion of USDT in circulation on Tron, against about $87 billion on Ethereum and under $3 billion on every other chain. For the US market Tether launched a separate stablecoin, USA₮, issued by Anchorage Digital Bank, N.A., and described USDT as "progressing towards GENIUS Act compliance".
USDT is the largest stablecoin in circulation. Tether's Q2 2026 attestation recorded $183.62 billion of digital tokens issued as of 30 June 2026.
Which entity issues it
Tether's Relevant Information Document, submitted to El Salvador's digital assets commission, the CNAD, names Tether International, S.A. de C.V. as the entity that issues and redeems USDT. The quarterly reserve attestations and the 2025 financial audit also report on Tether International, S.A. de C.V.
What backs it
Backing is a mixed reserve. Tether states the majority of reserves sit in US government-backed instruments, alongside gold, secured loans and other assets.
Sources: Tether finance page (USD₮ and XAU₮ market cap), Tether Q2 2026 attestation announcement, Tether transparency data feed (per-chain tokens issued, reserve balances, total liabilities), Tether announcement: launch of USA₮, issued by Anchorage Digital Bank, N.A. (27 January 2026), Tether International, Relevant Information Document, 20 February 2026 (PDF)
179.4B USDT in circulation across 35 chains, 22 of them holding supply bridged from Ethereum. Tron carries 51.5%. That is 61.5% of the USD stablecoin supply on the map, the largest of 70.
Includes 32.3M USDT on Omni that Tether reports as quarantined (mostly frozen after the 2017 theft); DIA counts frozen tokens until they are destroyed onchain.
The total is circulating supply: 193.4B USDT read from the contracts, less 14.0B USDT that Tether holds unissued in its own treasury wallets on Ethereum, Avalanche, Celo, Tron, Solana, TON, Kaia, Kava, Near, Aptos, Polkadot, Omni, Tezos, read onchain in the same snapshot. Each chain row takes those wallets off the chain that holds them. The supply chart draws contract supply, which still includes the treasury.
BSC, Arbitrum, Polygon, Plasma, Mantle, Optimism, X Layer, Hyperliquid L1, Monad, Ink, Berachain, Flare, Conflux, Stable, Tempo, Unichain, Morph, MegaETH, Rootstock, Manta, Sei, Etherlink hold bridged supply: each token there is backed by Ethereum supply, or by a custodian holding it. The total counts each token once, so bridged supply shows on the chain that holds it, marked “bridged from” its source, and comes off the source chain's row.
All USD stablecoins, 30d: the change in DeFiLlama circulating supply summed over the 64 USD stablecoins with a reading at both ends of the window. Wrappers and rebasing stablecoins are left out. It is DeFiLlama’s figure, not a DIA read.
Source: DIA first-party onchain reads of contract supply, the chart’s line, which includes the issuer treasury. Each figure is the change in contract supply across USDT’s chains between two daily snapshots. Circulating supply is not used for these windows. Not mints minus redeems: DIA does not publish issuance flow.
Share and rank are against the combined supply of the 70 active USD stablecoins on the map, each valued at DIA’s own read and price where DIA holds one and at DeFiLlama’s circulating figure otherwise. Wrappers are left out, as in every total on the map.
179.4B USDT
61.5% of all USD stablecoin supply, #1 of 70
Circulating. Excludes 14.0B USDT held unissued in Tether’s treasury.
Tron 51.5% · other chains 48.5%
Tron92.4B USDT · 51.5%
Ethereum70.5B USDT · 39.3%
BSCbridged from Ethereum9.2B USDT · 5.1%
Solana2.4B USDT · 1.3%
Arbitrumbridged from Ethereum820.2M USDT · 0.5%
Polygonbridged from Ethereum718.0M USDT · 0.4%
Plasmabridged from Ethereum693.5M USDT · 0.4%
TON500.8M USDT · 0.3%
Mantlebridged from Ethereum427.1M USDT · 0.2%
Avalanche319.3M USDT · 0.2%
Aptos316.7M USDT · 0.2%
Optimismbridged from Ethereum192.8M USDT · 0.1%
Kaia169.0M USDT · <0.1%
X Layerbridged from Ethereum138.3M USDT · <0.1%
Omni112.4M USDT · <0.1%
Celo83.9M USDT · <0.1%
Hyperliquid L1bridged from Ethereum61.8M USDT · <0.1%
Monadbridged from Ethereum49.8M USDT · <0.1%
Inkbridged from Ethereum45.8M USDT · <0.1%
Polkadot37.0M USDT · <0.1%
Near36.9M USDT · <0.1%
Kava28.0M USDT · <0.1%
Tezos27.3M USDT · <0.1%
Berachainbridged from Ethereum23.6M USDT · <0.1%
Flarebridged from Ethereum21.9M USDT · <0.1%
Confluxbridged from Ethereum20.1M USDT · <0.1%
Stablebridged from Ethereum18.8M USDT · <0.1%
Tempobridged from Ethereum10.8M USDT · <0.1%
Unichainbridged from Ethereum8.6M USDT · <0.1%
Morphbridged from Ethereum6.2M USDT · <0.1%
MegaETHbridged from Ethereum2.7M USDT · <0.1%
Rootstockbridged from Ethereum2.5M USDT · <0.1%
Mantabridged from Ethereum2.0M USDT · <0.1%
Seibridged from Ethereum1.4M USDT · <0.1%
Etherlinkbridged from Ethereum563.8K USDT · <0.1%Supply growth
Counted on Tron. Excludes issuer treasuries, includes contracts. Shares are of the supply on Tron less issuer treasuries and burn addresses. This source names no contracts, so they count as holders.
Source: Tronscan.
78,014,161holders on Tron
| USDT | |
|---|---|
| Top holder | 0.5% |
| Top 10 | 2.8% |
| Top 50 | 6.2% |
Excludes issuer treasuries, includes contracts. Shares are of the supply on Tron less issuer treasuries and burn addresses. This source names no contracts, so they count as holders.
The balance held by addresses on the USDT issuer's blacklist, as of 2 Nov 2026.
Frozen balance
6.1B USDT across 2 chains
Frozen with a balance
addresses currently frozen with a balance
Blacklisted
blacklisted addresses, whatever they hold
Destroyed
destroyed by the issuer, cumulative
Current balances of addresses on the issuer's blacklist, read from the token contracts on each chain. Reported next to supply, not subtracted from it. Blacklisted addresses include entries that hold nothing.
USDT's typical daily move over the last 90 days was 3.6 bps, steadier than 47 of 66 other USD stablecoins.
By default USDT sits beside its largest USD peer by current supply. Add more from the picker below the chart. Figures are in basis points: 100 bps = 1%.
Peg volatility is how much USDT's price swings around $1 from one day to the next: the standard deviation over 30 or 90 days. A stablecoin that sits steadily at $0.998 scores near zero. Largest deviation is the single day in the last 12 months furthest from $1, signed.
Median of peers, off by default, is the middle value among the peers currently shown; turn it on from the chart's controls.
The ranking counts every active USD stablecoin with at least two daily prices in the last 90 days.
Prices are daily closes at 00:00 UTC, from DeFiLlama with CoinGecko where DeFiLlama has no price. The chart beside this panel plots those same daily closes, so every figure in the table can be found on a line here. DeFiLlama quoted rounded and filled prices until 30 September 2025, so for USDT and USDC the closes before 1 October 2025 are the median of exchange closes instead, and a filled $1.0000 close is left out of the typical move and the largest move.
Stablecoins whose value rises by design, such as savings wrappers, are left out. Their price is a yield curve, not a peg.
Only USD stablecoins are compared. Other currencies are priced through a daily exchange rate fixed at a different time of day from the stablecoin's close. That gap shows up as the same false depeg on every stablecoin of the currency at once.
3.6 bps
Peg volatility, 90 days
typical day-to-day swing around $1
Over the last 90 days, USDT's daily swings around $1 were smaller than those of 47 of 66 other USD stablecoins.
| Stablecoin | Today | 30d | 90d | Largest |
|---|---|---|---|---|
 USDT | −13 bps (−0.13%) | 3.3 bps | 3.6 bps | −21 bps (−0.21%) |
 USDC | −4 bps (−0.04%) | 2.0 bps | 1.7 bps | −12 bps (−0.12%) |
$5.7B of USDT is supplied to 152 lending markets on 28 protocols, 2.9% of its onchain supply. The median across the 41 USD stablecoins in lending markets is 4.0%.
At least this much USDT is supplied to lending markets DIA reads onchain, where it can be borrowed. The figure is gross: most of it is on loan, and a borrower can deposit borrowed USDT again, so the same money can count more than once. Coins posted only as isolated collateral (Morpho-style) are not counted. Maple's institutional credit pools are counted. Their supply rates and loans outstanding come from Maple's own API. Excludes DEX liquidity, CDP collateral, and chains or protocols DIA does not yet track.
Source: DIA's own reads of each lending contract. Balances, supply and borrow rates and utilisation all come from the same read. A market not refreshed in the last 3 days, holding under $1,000 of USDT, or pinned at full utilisation with runaway interest is left out.
Token balances are converted to USD at DIA's own price for USDT.
Both figures are averages across markets, weighted by how much USDT each market holds. A $1B market counts a thousand times more than a $1M one. Markets holding 100% of the balance report an APY.
Ranks and the median compare USDT with the 41 USD stablecoins that have a published lending balance on this map, each measured the same way. Coins with no balance in a market DIA reads are not in the median.
$5.70B2.9% of supply
supplied to 152 lending markets on 28 protocols
Median across 41 USD stablecoins in lending markets: 4.0%
89%
Borrowed
share of supplied USDT now on loan
13.65%
Average supply APY
weighted by USDT balance in each market
By protocol
Ethereum, Ink, Mantle, Monad, Optimism, Plasma, Polygon65%$3.70BEthereumUSDT$2.58B3.86%94%PlasmaUSDT0$726.5M4.10%94%MantleUSDT0$151.4M3.29%90%MonadUSDT0$64.0M2.67%73%BSCUSDT$62.2M3.27%85%ArbitrumUSD₮0$44.0M3.54%88%PolygonUSDT0$31.1M3.75%70%AvalancheUSDt$24.4M5.94%92%InkUSD₮0$11.4M6.18%93%OptimismUSDT$3.8M5.23%92%
Monad, Polygon, Stable, Unichain7%$414.3MEthereumUSDT / wstETH$130.2M3.00%82%EthereumUSDT / WBTC$106.0M3.00%82%EthereumUSDT / sUSDS$59.0M2.54%89%EthereumUSDT / PT-reUSD-10DEC2026$17.7M6.89%87%StableUSDT0 / sthUSD$16.4M7.75%90%EthereumUSDT / PT-USDat-14JAN2027$13.4M3.42%68%EthereumUSDT / cbBTC$10.6M3.00%82%EthereumUSDT / PT-USD3-17DEC2026$10.5M6.18%96%EthereumUSDT / sUSDai$8.0M5.51%90%EthereumUSDT / WBTC$6.2M3.00%81%Hyperliquid L1USD₮0 / kHYPE$5.4M7.41%89%EthereumUSDT / sUSDS$5.2M3.00%82%Hyperliquid L1USD₮0 / WHYPE$4.5M7.40%88%EthereumUSDT / v-wmtUSDT$3.5M7.08%90%EthereumUSDT / XAUt$3.2M3.60%80%EthereumUSDT / wstETH$3.0M3.00%82%EthereumUSDT / PT-sUSDS-26NOV2026$1.7M4.11%84%EthereumUSDT / weETH$1.4M2.86%80%Hyperliquid L1USD₮0 / UBTC$1.2M7.41%89%EthereumUSDT / reUSD$1.1M4.04%81%ArbitrumUSDT0 / WBTC$1.0M2.83%90%EthereumUSDT / weETH$1.0M3.11%83%EthereumUSDT / cbBTC$798K3.00%84%EthereumUSDT / PST$662K6.66%93%Hyperliquid L1USD₮0 / kHYPE$427K7.30%87%StableUSDT0 / sthUSD$372K<0.01%<1%EthereumUSDT / WETH$287K2.98%87%EthereumUSDT / stUSDS$265K1.65%87%ArbitrumUSDT0 / sUSDS$155K2.72%90%Hyperliquid L1USD₮0 / UBTC$133K7.54%90%EthereumUSDT / syrupUSDT$119K2.83%74%PolygonUSDT0$108KArbitrumUSDT0 / WETH$108K1.17%54%EthereumUSDT / sUSDe$85K2.71%77%Hyperliquid L1USD₮0 / WHYPE$67K7.75%90%ArbitrumUSDT0 / wstETH$66K2.69%89%Hyperliquid L1USD₮0 / wstHYPE$50K2.60%82%PolygonUSDT0 / WPOL$39K2.15%88%Hyperliquid L1USD₮0 / UETH$39K7.36%89%PolygonUSDT0 / WBTC$32K14.49%92%EthereumUSDT$31KEthereumUSDT / PT-cUSD-23JUL2026$21K12.66%88%ArbitrumUSDT0$20KArbitrumUSDT0 / XAUt0$20K2.72%90%Hyperliquid L1USD₮0 / hbUSDT$19K25.61%91%Hyperliquid L1USD₮0 / thBILL$18K14.26%86%ArbitrumUSDT0 / weETH$16K2.72%90%MonadUSDT0 / XAUt0$16K24.20%91%UnichainUSDT0$11KEthereumUSDT / WETHNo withdrawable balance$10K6.41%100%Hyperliquid L1USD₮0$8KHyperliquid L1USD₮0 / UETH$5K12.05%90%Hyperliquid L1USD₮0 / WHYPE$5K1.50%78%Hyperliquid L1USD₮0 / hbUSDT$3K11.04%75%Hyperliquid L1USD₮0 / hbUSDT$3K10.32%82%ArbitrumUSDT0 / syrupUSDC$3K0.02%34%Hyperliquid L1USD₮0 / hwHLP$3K23.09%66%Hyperliquid L1USD₮0 / wstHYPE$2K113.62%67%Hyperliquid L1USD₮0 / WHLP$2K20.42%85%Hyperliquid L1USD₮0 / PT-kHYPE-24SEP2026$2KMonadUSDT0$2KEthereumUSDT / wstETH$1K<1%EthereumUSDT / hsUSDf$1K5%$307.3MEthereumUSDT$307.3M3.59%95%5%$297.7MEthereumUSDTNo withdrawable balance$297.7M4.96%100%
4%$248.1MTronUSDT$248.1M1.63%54%Polygon3%$184.9MEthereumUSDT$142.2M5.98%91%ArbitrumUSD₮0$41.6M5.07%87%BSCUSDT$676K1.48%65%PolygonUSDT0$432K4.14%89%
BSC, Ethereum, Hyperliquid L1, Optimism, Plasma, Polygon, Sei, Solana, TON10%$544.9MBSCUSDT$168.6M4.24%84%EthereumUSDT$158.6M4.13%90%AvalancheUSDt$55.6M1000.00%40%EthereumUSDT$24.1M6.69%93%EthereumUSDT$19.4M4.44%90%SolanaUSDT$16.4M5.06%90%EthereumUSDT$15.1M<1%ArbitrumUSD₮0$14.7M2.39%66%SolanaUSDT$11.7M3.61%82%EthereumUSDT$8.9M0.21%15%BSCUSDT / sUSDXNo withdrawable balance$8.2M2.74%100%BSCUSDTNo withdrawable balance$5.5M0.18%100%Hyperliquid L1USD₮0$4.3M14.82%82%EthereumUSDT$4.2M4.40%92%SolanaUSDT$3.9M5.10%91%AvalancheUSDt$3.4M4.59%85%EthereumUSDT$3.4M3.35%82%SolanaUSDT$3.1M7.42%95%TONUSDT$2.8M5.50%87%SolanaUSDT$1.8M4.79%94%BSCUSDT / BTCB$1.7M5.45%92%SeiUSD₮0$1.5M27.99%PolygonUSDT0$1.3M<0.01%38%OptimismUSDT$1.2M8.11%92%BSCUSDT / slisBNBNo withdrawable balance$807K100%BSCUSDT / sUSDeNo withdrawable balance$671K100%PolygonUSDT0$568K45%PlasmaUSDT0$472K6.23%74%AptosUSDt$380K2.47%55%BSCUSDT / slisBNB$371K2.58%86%Hyperliquid L1USD₮0$318K1.11%30%EthereumUSDT$309K12.07%93%BSCUSDT / wBETH$171K1.32%47%ArbitrumUSD₮0$170K7.49%80%BSCUSDT / PT-sUSDai-15OCT2026-(ARB)$123K<0.01%5%BSCUSDT / XAUt$122K1.47%72%BSCUSDT$122K7.60%72%EthereumUSDT$119K1.45%50%BSCUSDT$108K0.90%44%EthereumUSDT$62K4.39%81%PlasmaUSDT0$56K12.77%95%BSCUSDT / sUSDe$51K1.48%36%PlasmaUSDT0$33K0.82%26%SolanaUSDT$28K6.04%72%OptimismUSD₮0$24K1.20%46%OptimismUSDT$23K2.08%68%SolanaUSDT$23K7.19%85%SolanaUSDT$22K3.53%35%PlasmaUSDT0No withdrawable balance$22K99%BSCUSDT / ASTER$21K832.26%91%BSCUSDT$15K0.02%6%ArbitrumUSD₮0$14K3.00%87%BSCUSDT$14K<0.01%<1%BSCUSDT$14K<0.01%<1%BSCUSDT$14K<0.01%<1%BSCUSDT$14K<0.01%<1%BSCUSDT$14KBSCUSDT$14KEthereumUSDT$8KPlasmaUSDT0$7KSolanaUSDT$6K4.27%55%BSCUSDT / asUSDF$5K15.22%80%BSCUSDT$3K1.50%40%PlasmaUSDT0$2KBSCUSDT / BTCBNo withdrawable balance$2K100%EthereumUSDT$2K3.41%83%SolanaUSDT$2K1.26%21%AvalancheUSDt$2K6.26%84%PlasmaUSDT0No withdrawable balance$1K100%BSCUSDT$1K0.03%6%PlasmaUSDT0No withdrawable balance$1K25.86%100%AvalancheUSDt$1K7.01%89%USDT in lending markets, by chain, largest first. The bar is each chain's share of USDT's lending balance.
Ethereumin 44 lending markets69%$3.95BPlasmain 9 lending markets13%$727.1MBSCin 27 lending markets4%$249.6MTronin 1 lending market4%$248.1MMantlein 1 lending market3%$151.4MArbitrumin 13 lending markets2%$101.9MAvalanchein 5 lending markets1%$83.4MMonadin 3 lending markets1%$64.1M
Ink, Optimism, TON, Sei, Aptos, UnichainOther (10 chains)2%$125.0MAmong 41 USD stablecoins in lending markets
Top 5 USDT pools by TVL with a quoted APY.
TVL is what is deposited in the pool. For lending pools, that is before loans are taken out.
| APY | Composition | 30d avg | Quality | Protocol | Chain | Rewards | ▼TVL | Type |
|---|---|---|---|---|---|---|---|---|
3.78% | 3.86% | OrganicStable | Ethereum | +0.00% | $2.6B | Lending | ||
4.61% | 4.55% | OrganicStable | Plasma | +0.59% | $726.6M | Lending | ||
4.00% | 3.76% | OrganicStable | Ethereum | +0.00% | $406.2M | Lending | ||
3.53% | 3.66% | OrganicStable | Ethereum | +0.00% | $307.4M | Lending | ||
4.96% | 5.29% | OrganicStable | Ethereum | +0.00% | $298.1M | Lending |
USDT is designed to be backed by cash and money-market assets.
Tether publishes two different kinds of document, and they carry different weight.
The quarterly attestation
The quarterly disclosure is an attestation prepared by BDO for Tether International, S.A. de C.V. The Q2 2026 report, as of 30 June 2026, states total assets of $187,751,426,411, total liabilities of $183,641,897,215, of which $183,622,105,630 relate to digital tokens issued, and assets exceeding liabilities by $4,109,529,196. Tether reported net operating profit of about $1.50 billion for the quarter, gold holdings above 146 tons after adding 14 tons, and a reduction in secured lending exposure of about $2.38 billion, or 15%.
For comparison, the Q3 2025 attestation reported $181.22 billion of reserves as of 30 September 2025.
The 2025 audit
On 13 August 2026 Tether announced that KPMG U.S. issued an unqualified audit opinion on the financial statements of Tether International, S.A. de C.V. for the year ended 31 December 2025, under US GAAP and AICPA standards, with reserves exceeding liabilities by $6.814 billion at that date.
What the disclosure leaves out
The attestations are point-in-time balance snapshots. The audit covers the year ended 31 December 2025.
Sources: Tether Q2 2026 attestation announcement (BDO, as of 30 June 2026), Tether Q1-Q3 2025 attestation announcement (figures as of 30 September 2025), Tether announcement of KPMG U.S. unqualified audit opinion for FY2025, Tether transparency page
Tron0x357b0b74…ffc9dc2busdt::freeze_accounts(&signer,vector<address>,vector<bool>,vector<bool>)usdt::burn(&signer,address,u64)usdt::mint(&signer,address,u64)usdt upgrade_policy=compatible0xfd086bc7…b69fcbb9addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0x9702230a…4df4a8c7addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0x779ded0c…be713736addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0x55d39832…b3197955mint(uint256)0x48065fbb…87483d5eaddToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xaf37e8b6…c30847ffaddToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xdac17f95…3d831ec7addBlackList(address), removeBlackList(address) +2destroyBlackFunds(address)paused()issue(uint256)0x2c03058c…37dbfe6amint(address,uint256)0xe7cd86e1…750fc82daddToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xb8ce59fc…4f625ebbaddToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0x0200c290…f58470c1addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xd077a400…943e4fdbaddToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0x919c1c26…5769109caddToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xf417f5a4…a3d2851fmint(address,uint256)0x779ded0c…be713736addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xb8ce59fc…4f625ebbaddToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xe7cd86e1…750fc82daddToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xe7cd86e1…750fc82daddToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparentusdt.tethe…ken.nearadd_to_blacklistdestroy_black_fundspausemint, issueupgrade0x94b008aa…8ce58e58mint(address,uint256)0x01bff417…5dbc1071addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xb8ce59fc…4f625ebbaddToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xc2132d05…04b58e8fNo control settled on this deployment.
0x779ded0c…be713736addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0xef213441…e486bb960x9151434b…f660ecc5addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparentEs9vMFrzaC…8BenwNYBfreezeAuthoritymintAuthority0x779ded0c…be713736addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0x20c00000…7301eb73No control settled on this deployment.
EQCxE6mUtQ…w2Id_sDsjetton_wallet.get_status()get_jetton_data(): mintable, admin_addressTR7NHqjeKQ…SzgjLj6taddBlackList(address), removeBlackList(address) +2destroyBlackFunds(address)paused()issue(uint256)0x9151434b…f660ecc5addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparent0x1e4a5963…8849d41dmint(address,uint256)0x779ded0c…be713736addToBlockedList(address), removeFromBlockedList(address) +1destroyBlockedFunds(address)mint(address,uint256)eip1967-transparentContract controls are not read on Omni, Polkadot and Tezos yet.
Read from the deployed contract and its account on each chain. A control with no row is one the read could not settle, which is not the same as absent. “No” appears only where the verified contract source lists every function, or where the chain records that the control cannot exist, such as a package published as immutable.
Contract can freeze · wipe · pause · mint · upgrade
Independent reserve attestations are published quarterly.
The reserve buffer
At 30 June 2026, assets exceeded liabilities by $4.11 billion against $183.62 billion of tokens issued, about 2.2%. That buffer fell from the $6.814 billion reported at 31 December 2025. A mark-down of a few percent on the reserve would consume it.
Assets that are not cash equivalents
At 30 June 2026 the BDO-assured reserves report listed $18.84 billion in gold (about 10% of reserves), $5.80 billion in bitcoin (about 3%) and $13.45 billion in secured loans (about 7%). Gold and bitcoin are price-volatile and neither is redeemable at par on demand.
Which entity owes the holder
Tether International, S.A. de C.V. issues and redeems USDT. Its Relevant Information Document says Tether's obligations exist only toward KYC-verified customers who buy and redeem through the Tether website, and that secondary market transactions are subject to the terms of the secondary market participants.
Supply spread across chains
USDT is issued natively on many chains through separate contracts. Supply on one chain does not carry the reserve claim of another by itself, and a bridged or wrapped representation is a claim on the bridge.
Sources: Tether Q2 2026 attestation announcement, Tether Q1-Q3 2025 attestation announcement, Tether announcement of KPMG U.S. audit opinion for FY2025, Tether International, Relevant Information Document, 20 February 2026 (PDF), Tether International, Financial Figures and Reserves Report with BDO assurance, 30 June 2026 (PDF)
Tether International, S.A. de C.V., which is registered with El Salvador's CNAD as stablecoin issuer EME-0003. Tether's Relevant Information Document names it as the entity that issues and redeems USDT, and the quarterly reserve attestations and the audited 2025 financial statements report on the same company.
Yes, as of 2026. Tether announced on 13 August 2026 that KPMG U.S. issued an unqualified audit opinion on the financial statements of Tether International, S.A. de C.V. for the year ended 31 December 2025. The quarterly reserve reports remain attestations prepared by BDO, not audits.
A mixed reserve. The Q3 2025 attestation reported roughly $135 billion in direct and indirect US Treasuries, $12.9 billion in gold and $9.9 billion in bitcoin, with secured loans and other assets making up the rest.
At 30 June 2026 Tether reported total assets of $187.75 billion against $183.64 billion of liabilities, an excess of $4.11 billion, or about 2.2% of the $183.62 billion of tokens issued.
Contract supply, includes issuer treasury
Source: DIA onchain reads Updated
Source: DIA rebuild from onchain transfer history (to 30 Sep 2026), Block explorer holder counts (from 1 Oct 2026), Tron Updated
Daily close against the USD peg, in basis points. Drag the handles under the chart to zoom; a range button resets it.
The dotted vertical lines mark market stress events: days the whole market, or a stablecoin others hold as collateral, came under stress. Seeing every stablecoin on the same shock shows how each peg held. Only events with a published source are marked. Each entry under the chart shows every stablecoin's worst daily close within 3 days of the event.
Crypto sold off with global markets as Covid spread, ETH lost close to half its price, and a congested Ethereum let bidders win MakerDAO collateral auctions for zero DAI.
Bitcoin fell as much as 30% to about $30,000 after Chinese industry bodies warned banks off crypto, and more than $8 billion of positions were liquidated.
Terra's algorithmic stablecoin UST fell to about $0.65 as LUNA slid, the start of a run that wiped out both within days.
Tether's USDT fell to about 95 cents on some exchanges as UST collapsed, and recovered after Tether processed more than $3 billion of redemptions.
Crypto lender Celsius paused withdrawals citing extreme market conditions, as the discount of stETH to ETH reached a record 8%.
FTX halted customer withdrawals after about $6 billion left the exchange in 72 hours, and filed for bankruptcy days later.
Circle disclosed $3.3 billion of USDC reserves held at the failed Silicon Valley Bank, and USDC traded as low as $0.87 intraday, closed 11 March near $0.96 (the low a daily-close chart shows) and regained its peg on 13 March.
A reentrancy bug in old Vyper compiler versions let attackers drain over $70 million from Curve pools run by JPEG'd, Metronome and Alchemix.
A Bank of Japan rate rise set off an unwind of yen carry trades, and bitcoin fell to about $49,000 as crypto futures saw over $1 billion of liquidations.
North Korea's Lazarus Group took about $1.5 billion of ETH and stETH from Bybit's cold wallet, and the exchange saw over $4 billion of withdrawals.
Sweeping US tariffs on trading partners set off a global selloff, and bitcoin fell to about $74,500.
A 100% US tariff threat on Chinese imports set off the largest liquidation in crypto history, over $19 billion in a day, and USDe traded as low as $0.65 on Binance.
An attacker drained about $128 million from Balancer V2 pools on six chains through a rounding error in the pool maths.
Stream Finance disclosed a $93 million loss by an external fund manager and froze withdrawals, and its xUSD fell as low as $0.25.
Stables Labs' synthetic dollar USDX fell below $0.60 as redemptions ran ahead of its hedged positions, and lending markets that took it as collateral froze.
Bitcoin fell below $80,000 over a thin-liquidity weekend amid US and Iran tensions, liquidating about $2.5 billion of long positions in a day.
Bitcoin dropped more than 10% in a day to about $63,000, its worst one-day fall since the FTX collapse, as silver, software stocks and US indexes fell with it.
An attacker with a compromised minting key created about 80 million unbacked USR and sold them for roughly $25 million, and USR fell below $0.30.
A forged LayerZero message released 116,500 unbacked rsETH, about $292 million, and Aave, Spark and Fluid froze rsETH markets.
An attacker took over StablR's 1-of-3 minting multisig and minted about $13.5 million of unbacked USDR and EURR, and the issuer froze both coins.
Bitcoin slid below $62,000 on higher-for-longer rate bets and ETF outflows, and about $3 billion of leveraged positions were liquidated over two days.
USDTSource: DeFiLlama and CoinGecko prices Updated