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