BDO Italia said that Commercial Paper Holdings had dropped by 58% to $8.5 billion at the end of the last quarter.
BDO Italia has confirmed stablecoin issuer Tether’s consolidated reserves report, which showed a 58 percent quarterly drop in commercial paper holdings to $8.5 billion as of June 30.
Tether also confirmed that it still expects commercial papers to be worth $200 million by the end of August and nothing by the end of the year.
Thursday, Tether said that BDO Italia will take over its regular attestation reports and that the statements will be released every month instead of every three months as they had been before.
The BDO report looks at Tether’s holdings as of June 30. It confirms that Tether had $66.4 billion in assets then, including $28.8 billion in Treasury bills, $6.8 billion in money-market funds, $5.4 billion in cash, and a few other small holdings.
Tether Chief Technology Officer Paolo Ardoino wrote on the company’s website, “The utility of Tether continues to be supported by the transparency of its reserves. It has been a leading source of stability, which has allowed us to build a tool for the global economy.”
