Ethena USDtb (USDTB) stablecoin analytics
USDtb is Ethena's T-Bill-backed stablecoin, holding BlackRock's BUIDL fund as primary reserves; designed as a calmer alternative to USDe.
Static Profile
Static stablecoin profile
Ethena USDtb (USDTB) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar.
AI summary / Updated Jul 15, 2026
USDtb is the stable ballast in Ethena's reserve structure, designed chiefly to be held by its parent protocol rather than traded as a retail DeFi dollar. Its reserve is mostly BlackRock's BUIDL, with cash or cash-equivalent redemption reserves, issued by Anchorage Digital and...
AI summary · drafted by gpt-5.6-sol · reviewed by @TokenBrice on Jul 15, 2026 · facts as of Jul 15, 2026
- Collateral
- ~99% BlackRock USD Institutional Digital Liquidity Fund (BUIDL), investing in cash, U.S. Treasury Bills/Notes, and repurchase agreements; remainder in cash at FDIC-insured major commercial banks; issued by Anchorage Digital Bank N.A.; reserves held in segregated fiduciary trust accounts for the benefit of USDtb holders, with BUIDL self-custodied by Anchorage in segregated wallets (May 2026 Deloitte-examined reserve report)
- Peg Mechanism
- Direct 1:1 mint and redemption; BUIDL shares redeemable 24/7 via atomic swap with Securitize; LayerZero OFT cross-chain transfers
- Jurisdiction
- United States / OCC / Federal Bank Charter
- Proof Of Reserves
- Independent Audit by Big Four accounting firm via Anchorage Digital Bank Reserve source
Snippet Answer
Is USDTB safe?
Pharos does not mark USDTB as absolutely safe. Static metadata says Ethena USDtb uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Independent Audit from Big Four accounting firm via Anchorage Digital Bank; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety usdtb-ethena
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Jul 15, 2026.
USDTB quick answers
What is Ethena USDtb (USDTB)?
USDtb is Ethena's T-Bill-backed stablecoin, holding BlackRock's BUIDL fund as primary reserves; designed as a calmer alternative to USDe. The static profile records its US Dollar peg mechanism as: Direct 1:1 mint and redemption; BUIDL shares redeemable 24/7 via atomic swap with Securitize; LayerZero OFT cross-chain transfers
Is USDTB safe?
Pharos does not mark USDTB as absolutely safe. Static metadata says Ethena USDtb uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Independent Audit from Big Four accounting firm via Anchorage Digital Bank; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs USDTB?
Pharos classifies USDTB backing as Real-World Asset Backed. Collateral, per the static profile: ~99% BlackRock USD Institutional Digital Liquidity Fund (BUIDL), investing in cash, U.S. Treasury Bills/Notes, and repurchase agreements; remainder in cash at FDIC-insured major commercial banks; issued by Anchorage Digital Bank N.A... Reserve evidence: Independent Audit from Big Four accounting firm via Anchorage Digital Bank.
Can USDTB be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for USDTB, when applicable, appear in the dossier below.