Today, Tether Holdings Limited made available its latest quarterly assurance opinion demonstrating that the group’s consolidated assets exceed its consolidated liabilities. It shows a 21% decrease in its commercial paper holdings over the prior quarter.
The attestation, completed by MHA Cayman, affirms the accuracy of Tether’s Consolidated Reserve’s report, which breaks down the assets held by the group as of December 31 2021:
Consolidated total assets amount to at least US$78,675,642,677
Consolidated total liabilities amount to US$78,538,305,451 of which US$ 78,480,852,949 relates to digital tokens issued.
This demonstrates that the group’s reserves held for its digital tokens issued exceeds the amount required to redeem the digital tokens issued. The latest report also shows an increase in the group’s investments in money market funds and treasury bills as well as A-1+ commercial paper holdings over the previous quarter, which further fortifies the resilience of Tether’s stablecoins.
Tether CTO, Paolo Ardoino comments, “We are committed to serving the fast-growing cryptocurrency market as the strongest stable asset in the Web3 economy. The utility of Tether has grown beyond being just a tool for quickly moving in and out of trading positions, and so, it is mission critical for us to scale alongside the peer-to-peer and payments markets. To serve these new retail and institutional customers, Tether will continue to be the leader amongst its peers when it comes to transparency and reliability.”
You can read the Assurance Opinion here.
Driving the Future of Money
Tether supports and empowers growing ventures and innovation throughout the blockchain as a digital token built on multiple blockchains.