Assurance Opinion Re-affirms Tether’s Reserves Fully Backed; Tether Continues to Lead the Industry with Transparency

Today, Tether Holdings Limited made available its latest quarterly assurance opinion which not only includes the composition of its reserves but also provides a clear breakdown of the ratings and maturity of its commercial paper and certificates of deposit. It re-affirms once again that the information in the company’s Consolidated Reserves Report is correct.

The attestation, completed by an independent accounting firm, Moore Cayman—a member of Moore Global, one of the largest accounting networks in the world—verifies again our long-stated position that all Tether tokens are fully backed by Tether’s reserves.

According to the Consolidated Reserves Report as of September 30, 2021, nearly all new money that has entered the Tether ecosystem since June 30, 2021 through issuances has been kept in cash and bank deposits or invested in treasury bills. It also shows a clear reduction in commercial paper investments in percentage terms. The reduction in commercial paper exposure comes as a response to community feedback and is consistent with Tether’s investment policy and risk framework. Tether is committed to continuing to reduce these types of investments further over the coming months.

You can read the assurance opinion and the Consolidated Reserves Report here tether-assurance-sept-30-2021.

Paolo Ardoino, Tether CTO, said:

“We are proud to share that this attestation validates again what we’ve said from the beginning: Tether tokens are and have always been fully backed. We started Tether with a commitment to provide more global, democratized, and transparent access to the global financial system. We are pleased to share this attestation as part of that ongoing commitment.”

latest news

Tether Collaborates with TON Foundation and Oobit To Create Seamless Crypto-Payment Solution

16 May 2024 —Tether Operations Limited, the largest company in the digital asset industry, is joining forces with Oobit, a mobile payment app, and the TON Foundation to revolutionize the use of cryptocurrencies as a means of payment, offering users a seamless and convenient way to transact.  This collaboration reaffirms Tether’s unwavering commitment to providing a […]

Learn more
Tether Signs MOU With RAK DAO To Develop Educational Initiatives on Bitcoin and Stablecoins in the Ras Al Khaimah Region

14 May 2024 – Tether Operations Limited, the largest company in the digital asset industry, announces the signing of a Memorandum of Understanding (MoU) with RAK Digital Assets Oasis (RAK DAO), which is the first step towards the launch of several strategic initiatives to help foster the adoption of Bitcoin technology and stablecoins in Ras […]

Learn more
Tether and Bitnob Collaborate to Educate Ghanaian University Students on Bitcoin and Stablecoins

9 May 2024   – Tether Operations Limited, the largest company in the digital asset industry, and Bitnob, a financial technology company that enables payments into mobile money wallets and bank accounts, are announcing a strategic collaboration aimed at promoting financial education on Bitcoin and Stablecoins in Africa.   The collaboration will feature a series of […]

Learn more
Read all news