Tether’s Q3 attestation reveals highest share of money and money equivalents ever
In an Oct. 31 submit, Tether Holdings Restricted shared its assurance opinion for Q3 2023, which reaffirmed the accuracy of Tether’s reserves report.
Notable findings included money and money equal reserves standing at 85.7%, principally comprised of US T-Payments, within the quantity of $72.6 billion between direct and oblique publicity.
Weathering a unstable market
The announcement went on to focus on the stablecoin issuer’s skill to climate market volatility, reporting quarterly returns from Money and Money Equal investments to be $1 billion.
On the similar time, loans prolonged by Tether weren’t reported at $330 million, a considerable discount from earlier numbers, additional highlighting its skill to handle monetary belongings.
Within the curiosity of transparency
On the finish of October, Tether’s new boss made one other announcement within the curiosity of the agency’s transparency, sharing information of the stablecoin issuer’s skill to publish real-time information on its reserves.
The replace was stated to place an finish to the query that had been bothering the crypto neighborhood since its inception in 2014.
