Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: coingabbarmarket on November 01, 2023, 12:41:24 PM
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Tether Reports Cash Reserves Hit Record, Plans Real-Time Audits
Tether's recent attestation report by BDO reveals that 86% of its reserves were in cash and cash equivalents on 30 September, the highest ever for the Tether Reserve. Tether aims to introduce real-time audit reports in 2024.
It detailed $56.6 billion in US Treasury bills, $8.8 billion in reverse repurchase agreements, and $8.2 billion in Money Market funds, reducing reliance on secured loans to $5.1 billion. Tether plans to further reduce loans by $1.1 billion by October 31, leaving $900 million in loans as part of reserves.
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Tether's recent attestation report by BDO reveals that 86% of its reserves were in cash and cash equivalents on 30 September,
Hi friend,
Can you provide the best information to reference your thread?
Because usually with somewhat controversial threads like this there is a reference link so you can check it again in detail.
The Tether USDT reserve calculation is around 86% backed up with real FIAT, so where does the other 14% go? Is it just an empty or missing original FIAT spare, or what?
If USDT Tether does not have a reserve of 14% real money, it will impact the price of the USDT coin and the price could drop and not be the same as the real dollar, maybe if calculated with -14% it would be like this: 1 USD = 0.86 USDT.
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Tether's recent attestation report by BDO reveals that 86% of its reserves were in cash and cash equivalents on 30 September,
Hi friend,
Can you provide the best information to reference your thread?
Because usually with somewhat controversial threads like this there is a reference link so you can check it again in detail.
I 100% agree Damsix
Here is the last audit report, from September 2023
Auditing firm is BDO Italia, an audit and assurance company based in Italy, an independent member firm of BDO International Limited.
https://assets.ctfassets.net (https://assets.ctfassets.net/vyse88cgwfbl/36XORApdEYAq3AsH1FTXRT/9205ac62f2f57178c47ac5e2eca098c0/Std_ISAE_3000R_Opinion_30-09-2023_BDO_Tether_CRR_RC134792023BD0430.pdf)