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    Home » Tether Fully Discloses Its Reserves and Support for Its USDT Stablecoin
    Crypto News

    Tether Fully Discloses Its Reserves and Support for Its USDT Stablecoin

    August 10, 20211 Min Read
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    Tether USDT token symbol in soap bubble
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    Tether Holdings Limited, the issuer of the world’s largest stablecoin USDT found that Tether’s tokens are 100% backed by its reserves.

    • Cayman Island-based accounting firm Moore Cayman determined that Tether met its reporting obligations of reserves, noting that it is “fairly stated.”
    • Tether had a total assets valued at $62,773,190,075 for the reporting period, while the company’s consolidated total liabilities was $62,628,932,116, of which $62,610,829,196 were related to USDT.
    • Tether’s CRR report revealed the majority of Tether’s assets were cash and cash equivalents, up to $53.3 billion.
    • Tether’s quarterly reserve disclosure reached a $18.5 million dollar settlement with the New York State Attorney General. The investigation examined whether Tether and Bitfinex covered up to $850 million loss in funds.

    Legal troubles continue to plague the company. Tether is still under scrutiny for allegedly hiding crypto transactions years ago.

    USDT USD up +0.03%

    Source: Forkast

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    Cryptocurrency stablecoin Tether Holdings Limited
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