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Major Auditing Firm Confirms USDT Collateral

ByLouis Adams

Aug 19, 2022
Reading time: < 1 minute

BDO Italia has just submitted an opinion on the adequacy of Tether Holdings reserves to fully support its stablecoin USDT.

The company reviewed the assets and liabilities of the firm as at 30 June 2022.

The liabilities of Tether Holdings at the reporting date amounted to $66.2 billion, and the assets to $66.4 billion, which consisted of $28.8 billion in US Treasury bills, $8.5 billion in commercial paper, $6.8 billion in money market funds and $5.4 billion in cash.

Tether CTO Paolo Ardoino has said:

“USDT’s utility is supported by the transparency of its reserves. The source of stability allows us to create a tool for the global economy.”