Tether Confirms $82 Billion USDT Stablecoin Collateral

• Tether has published an attestation opinion from accounting firm MHA Cayman regarding USDT issuer reserves.
• USDT is fully backed.
• Tether reduced commercial paper and increased the amount of US Treasury bills.

Tether Holdings Limited has published a quarterly report from accounting firm MHA Cayman, which has assessed the USDT issuer's reserves. According to the document, as of March 31:

• Tether's consolidated total assets were at least $82,424,821,101;
• Tether's consolidated total liabilities were $82,262,430,079, of which $82,188,190,813 are issued digital tokens;
• consolidated assets exceeded the company's consolidated liabilities.

“We believe that the evidence we have received is sufficient and appropriate”, says the document.

Tether itself has noted that over the past few months it has been reducing its investment in commercial paper and increasing its holdings of US Treasury bills.

“Compared to the fourth quarter of 2021Tether сократила коммерческие бумаги на 17% — с $24.2 млрд до $19.9 млрд. Во втором квартале 2022 года Tether снизила коммерческие бумаги еще на 20%, что будет отражено в соответствующем отчете позже», says Tether.

The company increased the amount of invested funds inmoney market funds and US Treasury bills from $34.5 billion to $39.2 billion, an increase of more than 13%. In addition, the average rating of commercial paper and certificates of deposit increased from A-2 to A-1. The amount of secured loans decreased by $1 billion.

“The past week is an example of strength andstability of Tether. USDT has maintained its stability amid extreme market volatility and numerous black swans. Even in the most difficult days, Tether has never once refused to redeem USDT. This assessment further emphasizes that the USDT is fully backed and that its reserve composition is strong, conservative and liquid.”, noted Tether technical director Paolo Ardoino.

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