Latest Tether disclosures show $28.9 billion in US Treasury bills

Latest Tether disclosures show $28.9 billion in US Treasury bills

Stablecoin issuer Tether on Friday published results of its latest quarterly assurance opinion, completed by public accounting firm BDO.

A quarterly assurance opinion is a method used by stablecoin issuers to assure the market that their coins are backed by real assets. It involves assessing and analyzing different operations, processes, and procedures.

The report reveals it holds $28.9 billion in US Treasury bills, $6.8 billion in money market funds, cash and bank deposits of $5.4 billion, reverse repurchase agreements of almost $3 billion and non-US Treasury bills of $397 million.

It also shows a more than 58% decrease in Tether’s commercial paper holdings over the prior quarter from $20 billion to $8.5 billion.

 

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