Tether Limited has published an assurance report of its firm which is reviewed by the auditor of investment funds and digital assets, Moore Cayman. The CTO of Tether has tweeted that the firm has released the latest attestation along with the breakdown of reserves.
The report details the company’s assets and reserves, which Moore Cayman claims nearly $62.7 billion as of June 30. Tether’s chief technology officer, Paolo Ardoino, posted the tweet regarding the assurance report on August 9.
The post states that S&P assigns ratings to commercial papers. Many people must be missing our famous pie chart.
Guess what? Tether is fully backed. Rating of commercial papers is provided by S&P.
— Paolo Ardoino (@paoloardoino) August 9, 2021
Many people surely are already missing our famous pie chart.
The Tether attestation was produced by Moore Cayman, which holds the consolidated reserves report of Tether Limited. It has the company’s total assets, litigation, asset breakdown, and certificate of deposits which are as of June 30, 2021. Moreover, Moore Cayman added:
“Our findings as of June 30, 2021, 11:59 p.m. UTC are as follows: Consolidated total assets total at least USD 62,773,190,075 and are correctly classified as per the CRR. Total liabilities total USD 62,628,932,116, of which USD 62,610,829,196 are related to digital tokens issued.”
Following Tether Other Stablecoin Issuers Releases Reports
Tether’s assurance report comes after a slew of stablecoin issuers have published attestations in the last 30 days. Circle Internet Financial LLC. published a blog post on July 20 explaining how the firm’s stablecoin is supported by “given priority trust, transparency, and responsibility.”
Additionally, a regulated blockchain-infrastructure platform, Paxos also reveals the stablecoin-data which it fully backed right after 24-hours from Tether’s release. Furthermore, Huobi and Stable Universal, a stablecoin issuer, revealed monthly HUSD attestation reports.