Moore Cayman, an auditor of investment funds and digital assets. The
report provides a breakdown of the company’s assets and reserves which
Moore Cayman claims are around $62.7 billion as of June 30.
Tether Publishes Assurance Report
On August 9, 2021, Tether’s chief technology officer tweeted
that the company had published the firm’s “latest attestation” and a
detailed “breakdown of reserves.” “Guess what? Tether is fully backed,”
Tether’s CTO Paolo Ardoino said. “Rating of commercial papers is
provided by S&P. Many people surely are already missing our famous
pie chart,” he added.
Vaneck’s Gabor Gurbacs also tweeted about the report on Monday and said:
The latest Tether attestation is now out. Tether is
continuing its effort to provide more transparency on the leading $62
billion stablecoin. In the recent attestation, asset breakdown, quality,
and maturity/duration metrics are available. Well done.
The assurance report published by the independent auditor Moore Cayman
details that in the company’s “opinion, the CRR as prepared by the
management of Tether Holdings Limited group as of 30 June 2021 at 11:59
PM UTC, is presented in accordance with the criteria set out therein and
is, in all material respects, fairly stated.” Moore Cayman added:
Our findings as of 30 June 2021, at 11:59 PM UTC are:
Consolidated total assets amount to at least USD 62,773,190,075 which is
correctly classified as set out in the CRR. Consolidated total
liabilities amount to USD 62,628,932,116 of which USD 62,610,829,196
relates to digital tokens issued.
A Slew of Stablecoin Issuers Publish Attestation Reports Concerning Reserves This Past Month
Tether’s assurance report follows a number of stablecoin providers
who have published attestations during the last 30 days. On July 20,
Circle Internet Financial LLC. published a blog post that explains the firm’s stablecoin is backed by “prioritized trust, transparency, and accountability.”
Approximately 24 hours later, the regulated blockchain firm Paxos released data on the stablecoins it backs. Furthermore, Huobi and the stablecoin issuer Stable Universal revealed monthly HUSD attestation reports.
Tether issues USDT and EURT via various blockchain networks like Omni, Tron, EOS, the Simple Ledger Protocol (SLP), Algorand, Liquid, and Solana. Additionally, Tether’s Ethereum-issued contracts also disperse USDT, EURT, CNHT, and XAUT.
source link : https://news.bitcoin.com/62b-stablecoin-giant-tether-publishes-assurance-report-moore-cayman/
