Today, Tether Holdings Limited made available its latest quarterly assurance opinion completed by BDO, a top five-ranked global independent public accounting firm. The attestation re-affirms the accuracy of Tether’s Consolidated Reserves Report (CRR), which breaks down the assets held by the group as of September 30, 2022. The CRR demonstrates the strength of its reserves revealing massive reductions in commercial paper investments to near zero and an overall increase in U.S. Treasury Bills.

Tether's reserves are extremely liquid with the majority of its investments, making up 82% of the total assets, being held in Cash & Cash equivalent and other short-term deposits. It further highlighted a massive reduction in commercial papers with exposure only representing 0.07% of the reserves at the date of the report. Tether has reduced its commercial paper exposure by more than US$24 billion with no losses over the course of 2022 fulfilling both its promise and commitment to the community to do so.
The last remaining CPs were fully reimbursed at the beginning of October 2022
. U.S. Treasury Bills now also make up a significant portion of Tether's reserves with a direct exposure of over 58%. 

Tether’s CRR indicates, and BDO independent attestation confirms that the group’s consolidated assets exceed its consolidated liabilities.

You can read the latest assurance opinion and the Consolidated Reserves Report:
here

The Management of the Company asserts the following as of 30 September 2022:

• The Group’s consolidated total assets amount to at least US$ 68,061,618,458.

• The Group’s consolidated total liabilities amount to US$ 67,811,510,720, of which US$67,805,112,981 relates to digital tokens issued.

• The Group’s consolidated assets exceed its consolidated liabilities.

Paolo Ardoino, Tether CTO, said:

“Tether is proud to present this latest consolidated reserve report which once again amplifies its position as a leader in transparency,” said Paolo Ardoino, CTO of Tether. “This attestation is further evidence of our commitment to our community and ability to deliver on our promises. Tether is a trustworthy organization that communicates that by providing facts and in its actions. With CP at nearly zero, more US T-Bills than ever before, and highly liquid investments, Tether is the most utilized stablecoin on the market. We are also proud to share that the company is profitable and in the last quarter, an additional US$60 million was added to its excess reserves. The outlook for the upcoming quarter is very positive and we look already forward to the next attestation."