In a newly published assurance opinion, Tether Holdings Limited disclosed its financial standing for Q3 2023, substantiated by a comprehensive assessment conducted by BDO, a globally recognized independent public accounting entity. The attestation, dated October 31, 2023, reaffirms the veracity of Tether’s Consolidated Reserves Report (CRR) as of September 30, 2023, offering a detailed breakdown of the assets maintained by the Group.
Reserve Composition and Liquidity Maintenance
A notable revelation from the CRR is the record percentage of reserves Tether now holds in Cash and Cash Equivalents (C&Ceq), marking a historic 85.7%. A significant portion of these reserves, amounting to US$ 72.6 billion, is held in US Treasury Bills, depicting both direct and indirect exposure. This strategic allocation accentuates Tether’s ongoing commitment to ensuring liquidity and fostering stability within the broader stablecoin sphere.
Prudent…
