THE BLOCK: Anchorage Digital released its July 31 reserve report for Tether’s USA₮, showing 175.25 million tokens outstanding and $175.91 million in reserve assets, leaving a $661,079 surplus. USAT has now remained above $175 million in circulation for two consecutive month-ends following a roughly 10-fold increase from January, while 90% of reserves were held in reverse repurchase agreements backed by U.S. Treasuries and the remainder in cash.(The Block)