Advertisement
AD

Main navigation

Tether Releases Independent Accounting Report Confirming Funds Reserves

Advertisement
Mon, 9/08/2021 - 12:51
Tether Releases Independent Accounting Report Confirming Funds Reserves
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Tether has released an assurance opinion that was done by Moore Cayman audit services firm as a step toward the transparency of the funds that the company owns. According to the audit, USDT tokens are fully backed by reserves that Tether owns. The breakdown of the funds is presented in the report.

Advertisement
Tether Reserves
Source: Moore Cayman report

According to the report, Tether owns $62 billion worth of cash or cash equivalents, including short-term deposits and commercial papers. In addition to cash equivalents, the audit report contains the commercial papers section, which shows a $30 billion reserve of certificates of deposit.

Unfortunately, Tether has not disclosed which commercial papers they hold exactly as an answer to recent allegations about the sources of funding for USDT tokens.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD