Today, Tether Holdings Limited, the asset-backed crypto stablecoin, made available its latest quarterly assurance opinion completed by BDO, one of the top five independent public accounting firms in the world.
The attestation reaffirms the accuracy of Tether’s Consolidated Reserves Report (CRR), which breaks down the assets held by the group as of 30 September 2022.
The CRR demonstrates the strength of its reserves, revealing massive reductions in commercial paper investments near zero and an overall increase in US Treasury bonds.
Tether delivers on promises: all CPs have been repaid
The latest news reveals that Tether’s reserves are extremely liquid, and the majority of its investments, constituting 82% of total assets, are held in Cash & Cash equivalents and other short-term deposits.
In addition, Tether has shown a massive reduction in commercial paper with exposure representing only 0.07% of reserves as of the date of the report.
Not only that, Tether also reduced
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