New Tether Auditor Confirms Slashing of Commercial Paper Holdings
BDO Italia has reaffirmed stablecoin issuer Tether's Consolidated Reserves report showing a 58% quarterly decline in commercial paper holdings to $8.5 billion as of June 30.
Alongside, Tether confirmed its expectation that commercial papers will be down to $200 million by the end of August and zero prior to the end of the year.
Tether on Thursday announced BDO Italia as taking over its regular attestation reports and further promised the statements to be published each month rather than once per quarter.
The BDO report considers Tether's holdings on June 30, confirming at that time it had $66.4 billion in assets, with $28.8 billion in treasury bills, $6.8 billion in money market funds, $5.4 billion in cash, and some other modest holdings in addition to the $8.5 billion in commercial paper.
“The utility of Tether continues to be supported by the transparency of its reserves and has been a leading source of stability allowing us to build a tool for the global economy," said Tether CTO Paolo Ardoino on the company's website.
Read more: Tether Reduces Commercial Paper Holdings Almost 60% as It Tackles Quality Concerns
Back to the list