I don't know. Centre is publishing the individual short term US treasuries numbers of every single short term US treasury they own. They've got $9.8 bn at var

I don't know. Centre is publishing the individual short term US treasuries numbers of every single short term US treasury they own. They've got $9.8 bn at various US banks, minus potentially the loss on $3.3bn they may have to take now but even a $1bn loss and that'd still make USDC backed 0.975:1 or something. Not taking into account the insane yeld they're making on the $30 bn of short term US treasuries they have (for their clients, but I think the yields are for them). That compared to a bunch of shady people in the Bahamas, deeply tied to the SBF/FTX fraud... But yup, today, tether looks unaffected.