{"id":63231,"date":"2023-10-31T15:06:23","date_gmt":"2023-10-31T19:06:23","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=63231"},"modified":"2023-10-31T15:06:26","modified_gmt":"2023-10-31T19:06:26","slug":"tether-reserve-attestation-shows-86-cash-and-cash-equivalents","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/tether-reserve-attestation-shows-86-cash-and-cash-equivalents\/","title":{"rendered":"Tether Reserve Attestation Shows 86% Cash and Cash Equivalents"},"content":{"rendered":"\n

Tether\u2019s newest reserve attestation<\/a> consisted of approximately 86% cash and cash equivalents, according to a new attestation report from accounting firm BDO. This is the highest proportion of cash and cash equivalents that Tether's reserves have ever contained.<\/p>\n\n\n\n

\"Tether
Tether Reserve Attestation Shows 86% Cash and Cash Equivalents<\/figcaption><\/figure>\n\n\n\n

The report indicates that $56.6 billion in reserves consist of U.S. Treasury notes with a maturity date of less than 90 days. Meanwhile, reverse repurchase agreements involving these bills held an additional $8.8 billion. <\/p>\n\n\n\n

There were $8.2 billion in $1 per note-valued U.S. Money Market funds<\/a> and $292 million in cash and bank deposits. The company holds an additional $65 million in foreign treasury notes. The total cash and cash equivalents is approximately $74 billion, representing 85.73 percent of Tether's total reserves.<\/p>\n\n\n\n

The report also indicates that Tether has decreased its reliance on secured loans as a revenue source. Secured loans now account for only $ 5.1 billion in USDT reserves, approximately $336 million less than the previous report indicated. In September, Tether was criticized for continuing to make secured loans despite having previously stated that it would cease doing so.<\/p>\n\n\n\n

In an accompanying blog post, Tether predicted a further loan decrease by October 31's end of the day. By this date, an additional $1.1 billion in loans will have been repaid, leaving only $900 million in loans as part of the reserves.<\/p>\n\n\n\n

BDO \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>publishes quarterly attestations of Tether's reserves, with a one-month lapse between the end of the quarter and the report's release. Tether is developing a system that will provide real-time audit reports by 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tether\u2019s newest reserve attestation consisted of approximately 86% cash and cash equivalents, according to a new attestation report from accounting firm BDO. This is the highest proportion of cash and cash equivalents that Tether’s reserves have ever contained. The report indicates that $56.6 billion in reserves consist of U.S. Treasury notes with a maturity date […]<\/p>\n","protected":false},"author":1,"featured_media":11911,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[17016,17017,1531,1103],"class_list":["post-63231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cash-and-cash-equivalents","tag-reserve-attestation","tag-stablecoin","tag-tether"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/10\/Tether-denies-report-of-using-its-reserves-for-investments-and-making-crypto-backed-loans-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/63231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=63231"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/63231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/11911"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=63231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=63231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=63231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}