Data questions
Questions about stablecoin reserve data
This section answers common questions about stablecoin reserve data with a figure or a state read from ReserveBeat's board at the moment you load the page, never a stored answer. Every figure carries the issuer and as-of date it came from, and anything ReserveBeat computes itself is labelled as computed.
On this page
Questions answered here
- Which stablecoins does ReserveBeat track?
- Which stablecoins have a current attestation?
- Which blockchains does ReserveBeat measure supply on?
- What does ReserveBeat not cover?
- How often is each stablecoin attested?
- How long after month end do attestation reports appear?
- How quickly does ReserveBeat capture a new attestation?
- When was each stablecoin last attested?
- How much do tracked issuers report in reserves?
- Which stablecoins report on a consolidated basis?
- Who prepares the attestations ReserveBeat tracks?
- Has any attestation ReserveBeat tracks been restated?
- How many attestation reports has ReserveBeat parsed?
- Is USDT fully backed?
- Is USDC fully backed?
- Is PYUSD fully backed by reserves?
- Which stablecoins report reserves above their supply?
- What backs USDC and where can I see its reserves?
- What is in Tether's reserves?
- What is RLUSD backed by?
- Who audits Tether's reserves?
- Who audits Circle's USDC reserves?
- How often does Tether publish reserve reports?
- How often does Circle publish USDC reserve reports?
Each question below is answered from a read of the board taken when the page loads, not from a stored answer written once. A question appears here only where ReserveBeat holds the data to answer it; where it does not, the question is left out rather than answered vaguely.
Terms used in this answer
Definitional questions — what a payment stablecoin is, what an as-of date means — are answered in the learn section, not here. This section answers questions whose answer is a figure or a state.
The answer, from the board
This answer contains a figure ReserveBeat computes rather than one an issuer published. It is labelled as computed wherever it appears, and the exact calculation is written down.
- Published by
- ReserveBeat research · Methodology
Questions
Common questions
Where do the answers on these pages come from?
Each page reads ReserveBeat's own board when you load it. Figures published by issuers pass through exactly as they appear in the attestation reports ReserveBeat parsed; anything ReserveBeat works out itself is labelled as computed and the calculation is written down.
Why is an answer sometimes empty?
Because ReserveBeat holds nothing for it. An empty cell is never filled with a zero, an estimate, or a figure carried over from somewhere else, and a whole answer is withheld rather than shown stale while the board is under review.
Do these pages define the terms they use?
No. Definitions live in the learn section and are written once. These pages answer questions whose answer is a figure or a state read from the board, and they link to the learn section for the vocabulary.
How often do the answers change?
Whenever the underlying board changes. Nothing on these pages is cached as text, so a new attestation report or a correction shows up on the next page load without anyone rewriting the page.