Anchorage reports $175.9M backing USA₮ tokens at July 31

Anchorage Digital Bank reported $175,906,606 in reserves against 175,245,527 redeemable USA₮ tokens at July 31, 2026. The signed reserve attestation puts the surplus at $661,079. Anchorage issues the dollar-backed token in collaboration with Tether.

What backed the tokens

The July report lists $17,507,606 in cash and $158,399,000 in reverse repurchase agreements collateralized by US Treasury securities. Anchorage says the assets are held in segregated fiduciary trust accounts for token holders. A reverse repurchase agreement is a short-term transaction in which Anchorage holds securities as collateral until a counterparty buys them back.

The attestation is a snapshot at the end of July. The independent accountant examined whether Anchorage’s reserve report followed the stated accounting criteria. The accountant expressly did not assess compliance with laws, customer contracts, or the effectiveness of internal controls. The reserve figures should not be read as proof of broader regulatory compliance or future redemption capacity.

How July compares with earlier reports

The June 30 report listed 176,794,845 redeemable tokens, 1,549,318 more than July. That comparison shows a lower outstanding balance at month-end; the two snapshots alone do not establish the month’s gross issuance or redemptions.

Anchorage’s January 31 report listed 17,501,391 redeemable tokens. Its April 30 report listed 140,850,950, about eight times the January figure. The original version of this article misstated that increase as 540%. By July, the redeemable balance had risen to 175,245,527 tokens. These are historical balances, not a forecast of demand.

For token holders, the meaningful distinction is between a dated reserve examination and a continuing guarantee. The July report supports the former: it documents assets above redeemable tokens at one point in time, under the criteria and limits stated in the report.