Tether unveils report that shows USDT Tokens are backed by Reserves

Tether has unveiled an independent assurance report compiled by Moore Cayman audit services.

The opinion assurance dated 30 June 2021 affirms that all USDT tokens are fully backed by reserves. Explicit details about the reserves were also  attached to the report.

Tether’s Chief Technology Officer Paolo Ardoino had this to say about the report.

“A healthy and conservative portfolio with an emphasis on liquidity continues to fuel our growth and confidence in our innovative offerings.”

Tether Asset Management Breakdown

The asset management breakdown shows that Tether possesses $62 billion in cash or its equivalent.

NEXT POST: Crypto Regulation: Elon Musk opposes New hasty moves of the U.S government

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

Check Also


Ex SEC Official says more Bitcoin ETFs will be approved

Former U.S. Securities and Exchange Commission (SEC) branch chief Lisa Bragança believes that the market …

Leave a Reply

Your email address will not be published. Required fields are marked *