Stablecoin Issuer
Tether (USDT)
$140B+ outstanding. Audit history a regulatory concern.
Composite Risk
59
Restricted
AI Analitik Brifinqi
On-chain reserves
$12.64B
Reported liabilities (est.)
$140.00B
9% covered on-chain
Last on-chain activity
20h ago
across 12 chains
Risk Decomposition
Reserve Adequacy25% weight
91On-chain balance vs reported customer liabilities.
Outflow Velocity25% weight
24Lifetime asset turnover — proxy for bank-run vulnerability.
Concentration20% weight
95Top-3 token share of total reserves.
Counterparty Quality15% weight
40Regulatory standing, audit history, incident track record.
Liquidity Profile15% weight
34Stablecoin share and chain diversification.
Recommendation Justification
- Reserve adequacy weak — on-chain balance covers only 9% of reported liabilities.
- Top-3 tokens hold 99% of reserves — concentration risk.
- Regulatory / incident history elevates baseline counterparty risk.
Composite
59.0 / 100
Top Holdings
| Token | Chain | USD | Share |
|---|---|---|---|
| btc | Bitcoin | $6.32B | +50.01% |
| usdt | Avalanche | $1.43B | +11.33% |
| usdt | Solana | $929.90M | +7.36% |
| usdt | Tron | $899.97M | +7.12% |
| xaut | Ethereum | $382.26M | +3.02% |
| ausdt | Ethereum | $49.09M | +0.39% |
| eurt | Ethereum | $2.71M | +0.02% |
| mkr | Ethereum | $1.19M | +0.01% |
| trx | Tron | $774.1K | +0.01% |
| bsc-usd | BNB | $384.1K | +0.00% |
Chain Distribution
Bitcoin$6.32B · 50.0%
Avalanche$1.43B · 11.3%
Solana$929.92M · 7.4%
Tron$900.82M · 7.1%
Ethereum$435.91M · 3.4%
BNB$504.9K · 0.0%
Arbitrum$499.2K · 0.0%
Optimism$182.9K · 0.0%
Counterparty Graph · Top Bilateral Flows
| Counterparty | Sent → | Received ← | Net | Transfers |
|---|---|---|---|---|
| Bitfinex | $300.00M | $529.60M | +$229.60M | 13 |
| Binance | $0.00 | $538.00M | +$538.00M | 2 |
| Abraxas Capital Mgmt (Heka Funds) | $0.00 | $28.10M | +$28.10M | 1 |
Recent Large Transfers
| Time | Chain | Token | USD | From | To |
|---|---|---|---|---|---|
| 3h ago | Tron | USDT | $6.10M | Tether | TVWi2A…i1RS ↗ |
| 7h ago | Solana | USDT | $80.00M | Tether | Bitfinex ↗ |
| 7h ago | Tron | USDT | $80.00M | Bitfinex | Tether ↗ |
| 23h ago | Tron | USDT | $2.00M | Tether | TWLd8Z…GeCh ↗ |
| 1d ago | Tron | USDT | $831.9K | Tether | TEMR6W…usxx ↗ |
| 1d ago | Tron | USDT | $717.8K | Tether | TEMR6W…usxx ↗ |
| 1d ago | Tron | USDT | $919.5K | Tether | TEMR6W…usxx ↗ |
| 1d ago | Ethereum | USDT | $1.00M | Tether | 0xFEDd…07C3 ↗ |
| 1d ago | Ethereum | USDT | $12.00M | Bitfinex | Tether ↗ |
| 1d ago | Ethereum | USDT | $5.05M | Tether | 0x9271…89D0 ↗ |
| 1d ago | Ethereum | USDT | $150.00M | Tether | Bitfinex ↗ |
| 1d ago | Tron | USDT | $150.00M | Bitfinex | Tether ↗ |
| 2d ago | Tron | USDT | $50.00M | Bitfinex | Tether ↗ |
| 4d ago | Tron | USDT | $2.44M | Tether | TVWi2A…i1RS ↗ |
| 4d ago | Ethereum | USDT | $5.00M | Bitfinex | Tether ↗ |
| 4d ago | Tron | USDT | $889.1K | Tether | TNzwdt…vAWW ↗ |
| 4d ago | Tron | USDT | $20.00M | Tether | TQFRLF…g8fX ↗ |
| 4d ago | Ethereum | USDT | $20.00M | Tether | Bitfinex ↗ |
| 4d ago | Solana | USDT | $50.00M | Tether | Bitfinex ↗ |
| 4d ago | Tron | USDT | $100.00M | Bitfinex | Tether ↗ |