After it became known yesterday about Tether’s new partnership with top 10 global auditors BDO International, the USDT issuer today reported on its reserves in securing the largest stablecoin (recall, now such reports will be made not quarterly, as it used to be, but monthly). The corresponding notice appeared on the company’s official blog.
Italian auditor BDO has officially confirmed that as of June 30, Tether’s assets are $66.4 billion, while debt obligations to secure cryptocurrencies do not exceed $66.2 billion. It turns out that 100% of USDT is secured by highly liquid securities or fiat money (US dollars in bank accounts).
The lion’s share of reserves is occupied by almost $29 billion in US Treasury bills, the share of cash and bank deposits is $5, 4 billion
At the same time, it turned out that the company had reduced its commercial paper holdings by 58% compared to the second quarter of 2022, and now their value is $8.5 billion.
Source: https://prometheus.ru/auditorskij-otchet-usdt-na-100-obespechen- fiatnymi-aktivami/
