Tether Holdings Limited’s consolidated total assets amount to $66.4 billion, while the company’s consolidated total liabilities amount to $66.2 billion.

Independent Auditors Confirm USDT Collateral

Tether Holdings Limited, the issuer of the USDT stablecoin, holds assets in excess of the company’s total liabilities, according to a report by the independent accounting firm BDO Italia.

The BDO report shows that as of June 30, 2022, Tether’s consolidated total assets amount to $66.4 billion, which consist of:

  • U.S. Treasury bills ($28.9 billion);
  • Treasury bills of other countries ($0.4 billion);
  • Commercial paper and certificates of deposit ($8.4 billion);
  • Money market funds ($6.8 billion);
  • Bank deposits ($5.4 billion);
  • Reverse repurchase agreements ($2.9 billion);
  • Corporate bonds, funds, and precious metals ($3.5 billion);
  • Secured loans ($4.5 billion);
  • Other investments ($5.6 billion).

It should be noted that 99% ($66.2 billion) of the consolidated total assets of Tether Holdings Limited are associated with digital tokens. The company also reportedly reduced its commercial paper holdings by 58%, from $20 billion to $8.4 billion between March and June 2022.

The decline in USDT’s money supply caused by the TerraUSD (UST) crash has not prevented the company from maintaining the asset’s stability. Tether’s collateral volume still covers the tokens already issued.

The report was released a week after the U.S. Treasury imposed sanctions on the Tornado Cash mixer, causing USDT’s market cap to rise by $2 billion.Recently, Tether representatives voiced support for Ethereum to switch the main network to Proof-of-Stake, which is scheduled for the end of September.

Author: Nataly Antonenko
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