On November 8th, Paxos officially released the October PYUSD transparency report, which disclosed unaudited data related to PYUSD as of 06:00 on November 1st Beijing time, including: 1. The total amount of outstanding tokens is approximately $158,956,937; 2. The current market value of the collateral in the US Treasury reverse repurchase agreement is $162,719,629, with a nominal position value of $159,529,000; 3. The current market value of the collateral in other cash deposits held by the custody institution is $1,944, with a nominal position value of $1,944; 4. The current market value of the collateral in the total net assets is $162,721,573, with a nominal position value of $159,530,944. The US Treasury reverse repurchase agreement is a contractual arrangement between two parties, in which one party agrees to sell securities to the other party at a specified price and promises to buy back the securities at another (usually higher) specified price later. If the counterparty defaults, Paxos can liquidate the US Treasury collateral to make up for the loss. Since all transactions are over-collateralized, the risk of loss is not considered significant.